As the availability of electronic clinical data becomes more accessible and the use of artificial intelligence algorithms become more widely-used, the drug development process becomes the next big industry to harness the power of big data analytics. Pharmaceutical companies on average spend $2 billion over a period of 15+ years to develop, manufacture and bring to market a single drug or therapy. Additionally, once the drug has been approved by the FDA and brought to market, drug companies receive a patent that expires after 20 years. Factors such as these, as well as evolving political landscapes [that I clearly don’t have time to elaborate on in this post] contribute to the overwhelming prices of drugs.
With
critically important therapies like Daraprim and the Epipen rising to
unbelievable prices, the topic pharmaceutical drug prices is becoming an
increasingly controversial issue that constantly makes the headlines. Apart
from political action, how can the issue be addressed? The answer lies in the
production of the drug. As stated early, these massive price hikes are mostly
due to the fact that drugs cost billions to produce and take almost two decades
to bring to market...In other words, each day of production costs $300,000+ in
production costs. By reducing the time period to bring these drugs to market a
mere couple of weeks, massive reductions in drug costs can be attained.
A
solution can be found in the use of data sharing and the application of
simulated clinical trials. Within that 15 year timeline for drug development,
10-13 years consist of preclinical and clinical trials...or in other words,
conducting experimental treatments on animal and human subjects. In fact, many
drugs don’t even progress beyond that stage, costing drug companies an even
greater number of costs. Fortunately due to the recent availability of large
quantities of electronic clinical data, the potential of creating simulated
clinical trials is becoming a reality. This means that by aggregating large
datasets that culminate variables from numerous trials over decades of
research, artificial intelligence based algorithms can be used to predict the
outcome of specific trials without them needing to be conducted in a physical
laboratory. These trial simulations have the potential to reduce the drug
development timeline by numerous years.
However,
the hesitation to share data among different pharma companies hinders this type
of progress. Since these past trials, whether successful or not, cost drug
companies millions of dollars to conduct, they’re usually very apprehensive to
share their data due to their proprietary nature. Additionally, drug companies
and researchers are hesitant to share data because if a third-party analysis
finds flaws within the original data/analysis, their studies and, professional
reputations in general, can be invalidated. Fortunately for the consumer,
nonprofit organizations, who have regulatory and federal support, are bridging
the gap by uniting companies in non-competitive arenas to share data for the
greater good. As this sort of drug manufacture approach become more relevant,
drug timelines and costs associated with them will begin to experience drastic
declines.
Questions
to ponder...
- Although there will be significant
savings in the manufacture process, will this incentivize big pharma to
lower prices, or will they just pocket additional revenue?
- How do you think companies will
overcome the fear of error exposure?
- Do you think this type of approach
could become more integrated in a political agenda, or will governmental
lobbying just hinder progress as it does in more industries?
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