Why the TPP is Important to Innovation of New Medicines
Is developing new drugs too difficult?
This is a question that we often get asked at NZBIO. Every new drug that enters clinical trials has about a 1-in-10 chance of success. The drugs that do make it all the way are typically in the research and development phase (R&D) for more than a decade at a cost of more than a billion dollars, which clearly requires international investment for drug candidates discovered in New Zealand. So much time, So much money, so many failures in R&D, so why do it?