Stem Cell Technology Offers Promise Of Huge Savings For Drug Developers
More than 90% of drugs entering clinical development fail to get to market, due to the lack of effectiveness or adverse side effects not detected in animal tests. These false positives could be avoided with pre-clinical tests using stem cell technologies, potentially saving drug developers millions, according to Kalorama Information's new report Stem Cells: Worldwide Markets for Transplantation, Cord Blood Banking and Drug Development
The discovery and commercialization of a new drug costs in excess of $1 billion and requires more than 14 years. Early toxicity testing is a particular problem, since there are currently no good models for determining whether a drug will be toxic in humans. Some unsafe products advance through testing and approval, only to be pulled from the market later at a huge expense, as was the case with Vioxx and Bextra.