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The pharmaceutical industry is estimated to spend over $45B a year on the research and
development of new drugs, and the cost of bringing a new drug to market can range from
$500 million to $800 million. Clinical trials form the largest cost center in new drug
development, and 30% of these costs are associated with handling patient records. Data
collection and management activities account for about 60% of the total time within which
Phase I-III trials are conducted.
According to the New England Journal of Medicine, clinical trials report average adherence
rates of only 43% to 78% among patients receiving treatment for chronic conditions.
(N Eng J Med 353;5) It costs an average of $6533 to recruit a patient for a trial, and three
times that amount to recruit a new patient if is lost due to noncompliance.
(Cutting Edge Info) Recruitment delays account for an average of 4.6 months in lost time for
each trial, and an annual cumulative loss of 26 years on average for each company.
eMedonline cost-effectively and accurately tracks drug distribution, dosing times, and
missed doses, eliminating costly uncertainty about efficacy and the need for manual data entry.
This can reduce the cost to bring a drug to market and speed the time to market, enabling
drug companies to maintain their market position.
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