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Not defending big pharma. They do make a lot of money but in many cases this is proportional to the risk involved in drug discovery. To give you an example, in the last five years the big pharma have been developing quite a few drugs for Alzheimer's disease, a handful of which have made it to last stage clinical trails. So far non of them have passed the clinical trials and would have cost those companies up to a billion dollars maybe more. I forgot numbers but I think to get a drug to stage 3 clinical trial is something in the order of a 100-500 million. To market is over 1 billion.In that manner it is quite different to Apple or Intel. The risk of failure are much much higher and the product development costs are much higher as well.
Not defending big pharma. They do make a lot of money but in many cases this is proportional to the risk involved in drug discovery. To give you an example, in the last five years the big pharma have been developing quite a few drugs for Alzheimer's disease, a handful of which have made it to last stage clinical trails. So far non of them have passed the clinical trials and would have cost those companies up to a billion dollars maybe more. I forgot numbers but I think to get a drug to stage 3 clinical trial is something in the order of a 100-500 million. To market is over 1 billion.
In that manner it is quite different to Apple or Intel. The risk of failure are much much higher and the product development costs are much higher as well.
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