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Int. J. Environ. Res. Public Health 2013, 10(9), 4339-4351; doi:10.3390/ijerph10094339
Article

New Zealand’s Drug Development Industry

1
, 1,* , 2
 and 3
Received: 25 July 2013; in revised form: 9 September 2013 / Accepted: 10 September 2013 / Published: 13 September 2013
(This article belongs to the Special Issue Economics of New Drug Development and Approval)
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Abstract: The pharmaceutical industry’s profitability depends on identifying and successfully developing new drug candidates while trying to contain the increasing costs of drug development. It is actively searching for new sources of innovative compounds and for mechanisms to reduce the enormous costs of developing new drug candidates. There is an opportunity for academia to further develop as a source of drug discovery. The rising levels of industry outsourcing also provide prospects for organisations that can reduce the costs of drug development. We explored the potential returns to New Zealand (NZ) from its drug discovery expertise by assuming a drug development candidate is out-licensed without clinical data and has anticipated peak global sales of $350 million. We also estimated the revenue from NZ’s clinical research industry based on a standard per participant payment to study sites and the number of industry-sponsored clinical trials approved each year. Our analyses found that NZ’s clinical research industry has generated increasing foreign revenue and appropriate policy support could ensure that this continues to grow. In addition the probability-based revenue from the out-licensing of a drug development candidate could be important for NZ if provided with appropriate policy and financial support.
Keywords: drug development; economic benefits; New Zealand; clinical research; drug discovery drug development; economic benefits; New Zealand; clinical research; drug discovery
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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MDPI and ACS Style

Lockhart, M.M.; Babar, Z.-U.-D.; Carswell, C.; Garg, S. New Zealand’s Drug Development Industry. Int. J. Environ. Res. Public Health 2013, 10, 4339-4351.

AMA Style

Lockhart MM, Babar Z-U-D, Carswell C, Garg S. New Zealand’s Drug Development Industry. International Journal of Environmental Research and Public Health. 2013; 10(9):4339-4351.

Chicago/Turabian Style

Lockhart, Michelle M.; Babar, Zaheer-Ud-Din; Carswell, Christopher; Garg, Sanjay. 2013. "New Zealand’s Drug Development Industry." Int. J. Environ. Res. Public Health 10, no. 9: 4339-4351.



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