Sep 6, 2023

AI builds momentum for smarter health care

Posted by in categories: biotech/medical, business, health, robotics/AI

The pharmaceutical industry operates under one of the highest failure rates of any business sector. The success rate for drug candidates entering capital Phase 1 trials—the earliest type of clinical testing, which can take 6 to 7 years —is anywhere between 9% and 12%, depending on the year, with costs to bring a drug from discovery to market ranging from $1.5 billion to $2.5 billion, according to Science.

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