Knowing When to Pull the Plug On Your Experimental Drug
February 01, 2004
When Gary Cupit, vice-president of global business development and licensing at Novartis, recently told an audience at Columbia University that "we always cling to products a year longer than we should," he was referring to one of pharma's more pressing and expensive, if lesser-known, problems: failure to promptly pull the plug on unsuccessful pipeline projects. A drug in clinical trials burns about $30,000 a day. For compounds that never make it to approval, that adds up to a frittering of $11 million each.