High cost of Research and Development – Drug approval process in U.S. takes a long time to study a drug and get approval of the drug for consumers to use. – The FDA have led delays that could take up to 2 to 3 years or a lot longer to approve a drug. – Most drug trials fail during the research process. – Manufacturers need to recoup the financial investment within the patent period. How do these contribute to the high cost of pharmaceutical drugs? Please explain.
High cost of Research and Development
– Drug approval process in U.S. takes a long time to study a drug and get approval of the drug for consumers to use.
– The FDA have led delays that could take up to 2 to 3 years or a lot longer to approve a drug.
– Most drug trials fail during the research process.
– Manufacturers need to recoup the financial investment within the patent period.
How do these contribute to the high cost of pharmaceutical drugs? Please explain.
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