A 2011 study notes the success rate in bringing new
medicines to market in the past six years is only half of what it had been
previously.
Biotech drugs are twice more likely to gain approval than more traditional
chemical drugs.
Moving from early stage Phase I clinical trials to FDA
approval is roughly 10%, about half in earlier years.
Approval applications were filed for 55% of the drugs that
made it to Phase III testing, and 80% of those gained eventual approval; though
only half were approved on initial review.
SOURCE: BIOMEDTRACKER
In summary: 10% of biotechs move from early stage Phase
I clinical trials to FDA approval, and only half of those are approved on initial review.
