Healthcare economist Jason Shafrin in an article published on the Journal of Clinical Pathways looks at how real-world evidence could impact clinical trials in the drug development pipeline.
According to a report by the Bipartisan Policy Center, clinical trials can consume most of the research and development costs.
“Clinical trials can take as long as seven years and have cost $1.5 billion of the more than $2 billion spent on drug development,” the report states.
Shafrin writes that replacing at least part of the trial process with real-world evidence, “it could bring down drug development cost, reduce prices and increase incentives for life science R&D investment.”
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