Mississauga, ON -- (SBWIRE) -- 04/23/2013 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “DataTrack Lands New Israeli Biotech Client Looking to Maximize Efficiency in Clinical Trials.”
Companies mentioned in this article include DataTrak International, Inc. (OTCQX: DTRK).
With continually rising costs of development, biotechnology companies and medical device manufacturers are constantly on the prowl for ways to shave expenses. As detailed by Avik Roy in a study published by the Manhattan Institute, the cost of research in development of a drug that reaches FDA approval skyrocketed from an equivalent of $100 million in today’s money in 1975 to $1.3 billion in 2005. That figure doesn’t calculate costs associated with other drug failures, with averaged research and development costs across 12 leading pharmas resulting in cost per drug approval pushing near $6 billion per drug, according to research of Forbes’ Matthew Herper cited by Roy in his research.
Roy notes that FDA’s complex regulatory pathway for Phase III clinical trials is the “biggest driver” in the cost increases.
It will take some major industry and FDA changes to curtail the exorbitant costs to bring a drug to market. Looking to harness the power of the web to chip-in on lowering expenses, Cleveland’s DataTrak International, Inc. (OTCQX: DTRK) offers clients cloud-based, unified eClinical® technologies and related services to the clinical trial industry.
The full version of this article can be found at:
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