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KMR Group initiates benchmarking study to assess clinical trial cost. As the biopharmaceutical industry continues to grapple with the high cost of drug development, a focused assessment on one of the key cost drivers, clinical trials, is long overdue.
Utilizing both KMR Group’s expertise in clinical trial and site performance analysis, and years of portfolio level cost evaluation for drug development, the study is a natural extension of KMR’s Industry work in R&D productivity. The study will examine costs from recent global clinical trials.
The study is unique in that it will assess both the resource and expense side of running a clinical trial. The expense side will provide further insight into non-resource clinical trial costs, including the breakdown of outsourcing costs and investigator costs.
By pooling data beyond what a company can gather on its own, the study provides comparisons of the cost of clinical trials by phase and disease (e.g., Phase III Alzheimer’s), normalized by factors that have a statistically significant influence on cost (e.g., patients, sites, molecule size). The study forms a basis for more effective decisions and for driving productivity improvements.
Linda Martin, President of KMR Group notes “Given the increasing cost of clinical trials, and its impact on whether to bring a new drug to market, the study will provide participants with an unprecedented view into clinical trial costs. At present, when it comes to evaluating how much any given trial costs or should cost, no reliable, detailed cross industry information exists. KMR has a wealth of information on clinical trials and the cost information will help companies answer key questions on clinical trial cost drivers and ultimately, help drive productivity.”
For more information about KMR’s Clinical Trial Cost Study contact: