Novartis AG (NVS) Will Turn To Technology To Cut Drug Trial "Fail" Rate
6/30/2014 5:59:55 AM
Novartis, the Swiss drug giant, is hoping it can cut the cost of drug research with technologies that help to reduce its “fail” rate.
Tim Wright, global head of development at Novartis, said new tools were improving researchers’ ability to spot drugs doomed to end up on the scrap heap.
The average cost of bringing a single drug to market for Novartis was $4bn (£2.4bn), he added, but as much as $1bn of this cost could be money wasted on investigating drugs which failed during development.
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