This post introduces a series based on the Complion webinar, The Future of the Clinical Research Industry, as presented by John Neal, CEO of PCRS Network. In that webinar, John explores a variety of factors that are driving the evolution of clinical research.
No human endeavor is immune to change, and that is certainly true for clinical research. John Neal, CEO of PCRS Network spent a year talking to sponsors, management, and other people in various roles in clinical research in an effort to identify the factors that are shaping the future of clinical research. And while the views vary, one factor looms above all others.
“There’s a consensus that the system is broken,” says John. “It’s not sustainable.” It all comes down to money. According to John’s research, the average cost to take a drug from discovery through approval is $1.5 billion. And the cost isn’t dropping.
“Every indication is that without change, that number’s going to continue to increase,” John says. That is especially true for larger pharmaceutical companies that are testing multiple drugs trying to bring multiple products to market. Some of those drugs don’t make it, which raises the average cost of the drugs that do make it to market. “As an industry we need to change,” John says, “and there are plenty of things that are going to drive that change.”
Among those factors are increased patient involvement, pushback from Medicare and other payers on drug prices, greater collaboration on what John calls “real world protocols,” and, of course, technological innovation.
This series will examine these future factors and how they will shape the industry.
Staty tuned for the next post: "The Future of Clinical Research: Technology"
Access the full on-demand webcast, “Predictions: The Future of Clinical Research,” featuring John Neal, CEO of PCRS Network.