When it comes to lifecycle management, providing adequate pharma new product planning support can represent a tall order. According to the Journal of Medical Marketing, drug development takes between 12 and 15 years. Considering that patents generally only guarantee exclusivity for 20 years, companies have only 5 to 8 years of patent protection if the product makes it to market. The same Journal of Medical Marketing article suggests that the odds of a compound in pre-clinical development ever reaching the marketplace are only 1 in 10,000. Read More Here. (Source: Sarah Ray, CuttingEdge Information).
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