Pharmaceutical Expert Available to Comment On: Sharp Rise in Number of Clinical Drug Trials and Patients' Exposure to Experimental Drugs.
In its 1998 Industry Report, the Pharmaceutical Research and Manufacturers of America (PhRMA) estimates that pharmaceutical companies will invest more than $20 billion in research and development this, a 10% increase from 1997. Currently, it costs about $500 million and 15 years to bring a new drug to market, with clinical trials accounting for approximately one-half of the time and one-third of the cost required. In an effort to streamline the number of clinical trials -- and reduce the number of patients exposed to experimental drugs during these trials, pharmaceutical and biotech companies are turning to the high-tech world of computer simulation for help.
Stuart Koretz, MD, PhD, vice president of medical affairs and business development, for Pharsight is available to comment on the R&D challenges pharmaceutical and biotechnology industries are facing. Dr. Koretz has more than 15 years of experience in drug development across a broad range of therapeutic areas. He was previously vice president, new products discovery, at ALZA Corporation, where he focused on utilizing advanced delivery systems to improve the performance of drugs.
Pharsight Corporation, located in the midst of Silicon Valley and Biotech Bay, provides drug companies with computer-assisted trial design (CATD) software to design better, and eventually fewer, clinical trials. Pharsight's Trial Designer technology allows researchers to assess proposed clinical studies and determine which will be the most effective and least costly trial. By designing more efficient trials, Pharsight's technology can reduce the number of clinical studies performed per NDA and lessen the number of patients' exposed to experimental drugs. Glaxo Wellcome and Parke Davis are currently using Pharsight's software.
To schedule an interview with Dr. Koretz, please contact Laura Koziol or Gavin Skillman at Schwartz Communications, Inc., at 415/512-0770.
CONTACT: Schwartz Communications, Inc. Laura Koziol or Gavin Skillman, 415/512-0770