Northerner
Admin (Retired)
- Relationship to Diabetes
- Type 1
Everything about the US pharmaceutical company Pfizer's attempts to buy its Anglo-Swedish rival AstraZeneca is big. Let me try to explain why, writes Anthony Reuben.
The Association of the British Pharmaceutical Industry estimates that it costs on average £1.2bn to bring a new drug to market - and takes 12 years.
And if that seems like a lot, Forbes Magazine reckons the biggest companies pay way more than that.
Its reporter Matthew Herper took the slightly crude but basically valid step of taking the amount spent on research and development by pharmaceutical companies over 10 years and dividing it by the number of drugs each company brought to market over that time.
http://www.bbc.co.uk/news/blogs-magazine-monitor-27340835
The Association of the British Pharmaceutical Industry estimates that it costs on average £1.2bn to bring a new drug to market - and takes 12 years.
And if that seems like a lot, Forbes Magazine reckons the biggest companies pay way more than that.
Its reporter Matthew Herper took the slightly crude but basically valid step of taking the amount spent on research and development by pharmaceutical companies over 10 years and dividing it by the number of drugs each company brought to market over that time.
http://www.bbc.co.uk/news/blogs-magazine-monitor-27340835