According to a new study by the Tufts Center for the Study of Drug Development, the estimated cost of developing a new prescription medicine that gains marketing approval is now $2.6 billion.
The estimated cost is based on an average out-of-pocket cost of $1.4 billion and time costs of $1.2 billion.
In a study published in 2003, Tufts CSDD estimated the cost per approved new drug to be $802 million (which equates to about 1 billion 2013 dollars), based on average out-of-pocket costs of $403 million and capital costs of $401 million.
Read the Tufts press release
