Click to watch the live stream and join the conversation. #PhRMA16

0 SHARES

0

0

0

0

0 SHARES

0

0

0

0

Michigan

Research In Your Backyard

Number Of Clinical Trials : 1,456


In the development of new medicines, clinical trials are conducted to prove therapeutic safety and effectiveness and compile the evidence needed for the Food and Drug Administration (FDA) to approve treatments.

"The nation’s biopharmaceutical research companies are providing a steady source of revenue to local research institutions all over the state at a time when Michigan needs as many boosts to its economy as it can get. The industry, in collaboration with the state’s university medical schools and science centers, local hospitals and contract research organizations, has conducted nearly 3,500 clinical trials of new prescription drugs since 1999. Today, companies and their local partners are conducting nearly 400 trials of new medicines. That’s good news for some chronic disease sufferers who are still seeking the treatments best for them and it is certainly welcome news to Michigan’s research collaborators since clinical trials account for 45 to 75 percent of the $1.2 billion average cost of developing just one new novel treatment."

Stephen Rapundalo, President & CEO, MichBio



  • 23,600

    Number Of Clinical Trial Participants


  • $191.7
    million

    Amount Invested In
    Clinical Trials


  • $488.2
    million

    Total Economic Impact Of Clinical Trial Investments

It takes about 10 years to develop one new medicine. Clinical trials are the most time- and resource-intensive part of the research and development (R&D) process for a new medicine, and biopharmaceutical companies support and conduct the lion’s share of this work. Yet without clinical trials, new medicines could not be approved and made available to the patients who need them.

Beyond the profound value that biopharmaceutical industry R&D brings patients in the form of new treatments and potential cures for society’s most devastating and costly diseases are the significant economic impacts resulting from clinical trials conducted in communities across the country.*



Learn more about Research in Your Backyard, a series of reports that highlight the importance of clinical trials to patients' health, as well as the contributions to local economies.

* The data presented here focuses solely on investments at clinical trial sites, which are only a portion of the full economic impact of R&D supported by the biopharmaceutical industry. In addition to excluding pre-discovery and preclinical research and other activities related to trial design, management coordination, and analysis, as well as any other activities occurring beyond the operations at the site level, were beyond the scope of this research. The report also excludes the large nationwide economic impact associated with non-R&D activities, including manufacturing and distribution.

connect with PhRMA...

Make your voice heard. Join the important discussion on the value and economic impact of new medicines.


connect with PhRMA...

Make your voice heard. Join the important discussion on the value and economic impact of new medicines.


  • +68K

    Followers

  • +57K

    Followers

  • 366

    Followers

  • 3343

    Subscribers