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Pharmaceuticals: cost of drug development in the U.S. since 1975

Cost of developing a drug in the U.S. from the 1970s until today (in million U.S. dollars)*

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Sources

Release date

December 2020

Region

United States

Survey time period

1975 to early 2010s

Supplementary notes

PhRMA stands for Pharmaceutical Research and Manufacturers of America.
* Including the cost of failures.
** Previous research by the same author estimated average R&D costs in the early 2000s at $1.2 billion in constant 2000 dollars (see DiMasi JA, Grabowski, HG. The cost of biopharmaceutical R&D: is biotech different? Manage Decis Econ. 2007;28:469-479). That estimate was based on the same underlying survey as the author’s estimates for the 1990s to early 2000s reported here ($800 million in constant 2000 dollars), but updated for changes in the cost of capital.

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Statistics on "U.S. pharmaceutical industry"

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