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Legal Minute: Why is your medicine so expensive?
Manage episode 410735446 series 3506216
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Bringing a drug to market is a costly and intricate process, averaging $2.3 billion. This expense encompasses multiple levels of testing, ranging from small animals to extensive human trials. The drug company, whether partnering with a university or a private investor, foots the bill for each phase of testing, ensuring safety and efficacy before reaching the market. The investment covers meticulous testing procedures, safeguarding against potential risks and ensuring the drug's viability on a large scale.
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