Using Patent Data for Drug Development

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Bringing new drugs to market is a complex and expensive process. According to the Tufts Center for the Study of Drug Development, the average cost of a new drug is $2.6 billion, including failures and time spent.

Using patent data is a cost effective, smart way to mitigate financial risks. Adding patent information to big data analysis can help avoid costly intellectual property issues and provide scientists with access to research that’s never published in journals or presented at conferences.

Read the full story IFI CLAIMS® contributed to Bio-IT World.