The high cost and long time behind bringing a new drug to market: An inside look at pharmaceutical R&D in numbers.
The pharmaceutical industry is the industrial sector that injects the most money into the research and development (R&D) area, in 2022 alone 238 billion dollars were spent. The cost and time required for pharmaceutical research and development (R&D) can vary widely depending on the type of drug being developed and the stage of development it is in. According to a 2018 study made by the "Tufts Center for the Study of Drug Development," the average cost to develop a new drug and bring it to market is approximately $2.6 billion.