How the FDA Stifles New Cures, Part II: 90% of Clinical Trial Costs are Incurred in Phase III
Published: Apr 26, 2012
Yesterday, the Manhattan Institute released a study I authored, entitled “Stifling New Cures: The True Cost of Lengthy Clinical Drug Trials.” (You can read the full report here.) The paper discusses how outdated FDA policies are making drug development too expensive and too risky. In this excerpt, I detail why late-stage Phase III trials account for 90 percent of the cost of clinical trials in drug development.