Biopharma firms function in a risky development environment with compressed timelines and budget constraints. Companies often overlook critical factors which could delay or suspend efforts down the road. Consultants should help clients understand five key risks in order to avoid costly problems and maximize financial returns during the development process.
Drug development is an expensive proposition. Discovery and preclinical work are estimated to cost $318 million, with an additional $800 million to $1.1 billion required to advance a molecule from first-in-human testing to market approval1-2. For small biopharmaceutical innovators, steep development costs are compounded by the fact that large molecules are becoming increasingly complex and serious clinical or manufacturing problems may not surface until late in the process. Identifying these risks early on and choosing the right CDMO partner will ensure these risks are diminished, while financial returns remain. Learn how Thermo Fisher Scientific has the solution and is the right partner, every time.