As R&D Costs Increase, the Industry Must Find Innovative Ways to Bring Them Down
The stage is set to break records for innovative medications. In 2019, pharmaceutical pipelines across the globe included 16,181 new molecules undergoing preclinical or clinical trials or in the approval and launch process. The number of small companies with only one or two molecules in the pipeline is growing but the bulk of pharmaceutical investment in R&D has been done by Big Pharma, with the 10 largest investors placing almost US$80 billion into research. Worldwide pharmaceutical and biotech R&D spending reached US$171 billion in 2018 and it is expected to climb to US$177 billion in 2019, according to Deloitte. While not all molecules in the pipeline will make it to the market, this is the largest pipeline in the history of the sector.