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Venture Capital in Biotechnology
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Reference: DARDEN-OM-1796-E
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Number of pages: 8
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Publication Date: Dec 5, 2023
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Source: Darden University of Virginia (USA)
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Type of Document: Technical Note
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Industry Setting: Healthcare
Description
Pharmaceutical companies have historically relied on their ability to research, develop, manufacture, and sell drug products. Developing a successful drug is a complex and lengthy process, with no guarantee of success, and the total cost of approving a new drug is estimated at $2.5 billion, and rising. This technical note offers an overview of changes in the biotechnology industry related to drug development, focusing on M&A, the milestone model, and venture capital.