Improving R&D productivity and health care through Quantitative Tools

Abstract

Pharmaceutical industry is entering an exciting new era in drug development with recent scientific and technological advancement. Research methods are evolving and we have many promising prospects on the horizon. The industry has contributed to significant improvements in patient well-being with patients living longer with better quality of life. However, there is a need to improve R&D productivity. The impact of low R&D productivity and escalating costs of drug development on the health care quality, access and health care costs have been well documented. Less than 10% of new compounds that enter clinical trials ultimately make it to the market. Some of these challenges are discussed in the “critical path" publication by the US Food and Drug Administration (FDA). The document emphasizes on using quantitative tools and various opportunities to improve drug development. This talk will briefly cover one of these tools. An overview of meta-analysis in clinical trials as a part of comparative effectiveness research will be provided. We will discuss some basic yet commonly used quantitative methods. Few real life scenarios on the application and influence of these methods in clinical trials specific to the pharmaceutical industry, and health care decision making will be highlighted.