• DOI:10.1016/j.jhealeco.2016.01.012
Corpus ID: 7315702

Innovation in the pharmaceutical industry: New estimates of R&D costs.

@article{DiMasi2016InnovationIT,
  title={Innovation in the pharmaceutical industry: New estimates of R&D costs.},
  author={J. DiMasi and H. Grabowski and R. W. Hansen},
  journal={Journal of health economics},
  year={2016},
  volume={47},
  pages={
          20-33
        }
}

J. DiMasi, H. Grabowski, R. W. Hansen

Published 2016

Economics, Medicine

Journal of health economics

The research and development costs of 106 randomly selected new drugs were obtained from a survey of 10 pharmaceutical firms. These data were used to estimate the average pre-tax cost of new drug and biologics development. The costs of compounds abandoned during testing were linked to the costs of compounds that obtained marketing approval. The estimated average out-of-pocket cost per approved new compound is $1395 million (2013 dollars). Capitalizing out-of-pocket costs to the point of… CONTINUE READING

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