Clinical Trial Delays Cost Pharmaceutical Companies

Sep 20, 2005, 01:00 ET from Cutting Edge Information

    RESEARCH TRIANGLE PARK, N.C., Sept. 20 /PRNewswire/ -- According to a new
 study by Cutting Edge Information, patient recruitment and enrollment
 challenges are the leading causes of missed clinical trial deadlines.  These
 challenges contribute heavily to clinical trials lasting 42% longer than
 expected in Phase I, 31% longer in Phase II, and 30% beyond planned deadlines
 in Phase III, on average.  Unfortunately for pharmaceutical companies, each
 day a clinical trial extends over schedule, drug developers lose as much as
 $600,000 in foregone sales for small or niche products or as much as
 $8 million for blockbuster drugs.
     Adding to this problem, the average cost of running clinical trials has
 increased substantially over the past decade.  In fact, according to
 "Accelerating Clinical Trials: Budgets, Patient Recruitment and Productivity,"
 the average per-patient cost of a Phase I trial is about $5,500; the average
 for a Phase II trial is $6,500; and, the average Phase III trial costs more
 than $7,600 per patient.
     Given these conditions, drug companies must continue to support clinical
 operations and, most importantly, patient recruitment, with substantial
 funding to accelerate trials and meet deadlines.
     "The drive to accelerate clinical trials in the US and Europe, coupled
 with fierce competition for increasingly fewer patients, means there likely is
 no end in sight for the rising cost of clinical trials," said Jon Hess, senior
 analyst at Cutting Edge Information.  "However, companies are finding
 innovative ways to make this process more efficient and cost effective."
     "Accelerating Clinical Trials: Budgets, Patient Recruitment and
 Productivity," is a comprehensive report featuring metrics and business
 practices from several top industry pharmaceutical companies.  Among the
 companies profiled are AstraZeneca, Pfizer, GlaxoSmithKline, Roche, Eli Lilly,
 Parexel, Quintiles and Wyeth.  The report, available at
 http://www.AcceleratedClinicalTrials.com, also reveals the following data to
 help clinical affairs planners refine strategy and streamline operations:
      - 2004 clinical affairs budgets
      - Investigator meeting budgets
      - Per-patient clinical costs by phase and therapeutic area
      - Clinical trial performance measures
      - Clinical outsourcing spending patterns
 
     To download a free summary of this new 153-page report, please visit
 http://www.AcceleratedClinicalTrials.com.  For more information on this report
 or to learn about other Cutting Edge Information research, contact Jon Hess at
 jon_hess@cuttingedgeinfo.com or 919-433-0211.
 
 

SOURCE Cutting Edge Information
    RESEARCH TRIANGLE PARK, N.C., Sept. 20 /PRNewswire/ -- According to a new
 study by Cutting Edge Information, patient recruitment and enrollment
 challenges are the leading causes of missed clinical trial deadlines.  These
 challenges contribute heavily to clinical trials lasting 42% longer than
 expected in Phase I, 31% longer in Phase II, and 30% beyond planned deadlines
 in Phase III, on average.  Unfortunately for pharmaceutical companies, each
 day a clinical trial extends over schedule, drug developers lose as much as
 $600,000 in foregone sales for small or niche products or as much as
 $8 million for blockbuster drugs.
     Adding to this problem, the average cost of running clinical trials has
 increased substantially over the past decade.  In fact, according to
 "Accelerating Clinical Trials: Budgets, Patient Recruitment and Productivity,"
 the average per-patient cost of a Phase I trial is about $5,500; the average
 for a Phase II trial is $6,500; and, the average Phase III trial costs more
 than $7,600 per patient.
     Given these conditions, drug companies must continue to support clinical
 operations and, most importantly, patient recruitment, with substantial
 funding to accelerate trials and meet deadlines.
     "The drive to accelerate clinical trials in the US and Europe, coupled
 with fierce competition for increasingly fewer patients, means there likely is
 no end in sight for the rising cost of clinical trials," said Jon Hess, senior
 analyst at Cutting Edge Information.  "However, companies are finding
 innovative ways to make this process more efficient and cost effective."
     "Accelerating Clinical Trials: Budgets, Patient Recruitment and
 Productivity," is a comprehensive report featuring metrics and business
 practices from several top industry pharmaceutical companies.  Among the
 companies profiled are AstraZeneca, Pfizer, GlaxoSmithKline, Roche, Eli Lilly,
 Parexel, Quintiles and Wyeth.  The report, available at
 http://www.AcceleratedClinicalTrials.com, also reveals the following data to
 help clinical affairs planners refine strategy and streamline operations:
      - 2004 clinical affairs budgets
      - Investigator meeting budgets
      - Per-patient clinical costs by phase and therapeutic area
      - Clinical trial performance measures
      - Clinical outsourcing spending patterns
 
     To download a free summary of this new 153-page report, please visit
 http://www.AcceleratedClinicalTrials.com.  For more information on this report
 or to learn about other Cutting Edge Information research, contact Jon Hess at
 jon_hess@cuttingedgeinfo.com or 919-433-0211.
 
 SOURCE  Cutting Edge Information