No human endeavor is immune to change, and that is certainly true for clinical research. In this four-part series, we will explore the variety of factors driving the evolution of clinical research based on insights presented by John Neal, CEO of PCRS Network.
Neal spent a year talking to sponsors, management, and other 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 Neal. “It’s not sustainable. It all comes down to money.”
According to Neal, the average cost to take a drug from discovery through approval is more than $1.5 billion. And the cost isn’t dropping.
“Every indication is that without change, that number’s going to continue to increase,” Neal adds. “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, 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 Neal calls “real world protocols,” and, of course, technological innovation.
In our second post in this series, Neal takes a look at how new technologies are impacting the area of data collection.