Global average across the pharmaceutical and biotechnology industries now almost $6,000 per patient, according to Cutting Edge Information study
RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)-- A new study found that drug companies spend an average $5,856 per patient to fund a Phase IV clinical trial in the United States. Cutting Edge Information’s research spans several types of Phase IV studies, including investigator initiated trials, registries and observational trials and large simple safety trials.
Companies’ costs per patient ranged from $1,000 at the low end to more than $12,000 at the high end. Typically, the more expensive per-patient costs are for Phase IV trials that study oncology or urology. The new study, “Phase IV Clinical Trials: Best Practices in Post-Marketing Study Management,” found that the per-patient costs for Phase IV oncology studies average more than $7,000.
“Increased scrutiny from regulatory agencies, as well as greater demands from payers, has driven recent growth in Phase IV research,” said David Richardson, research team leader at Cutting Edge Information. “With increased growth, however, comes increased costs due to greater competition for patients, increased vendor and investigator fees and internal competition for clinical resources.”
Benchmark partners noted that post-marketing studies offer a range of benefits, from extending a drug’s lifecycle to providing new data that can open the door to approvals for additional indications. With variations in the types of trials, study locations, different patient or trial protocol requirements, and study durations, Phase IV studies’ total budgets range from $100,000 to tens of millions of dollars. The study also found that European Phase IV trials cost less, on average, than in the United States. According to the data, the average per-patient cost in Europe is $2,992.
“Phase IV Clinical Trials: Best Practices in Post-Marketing Study Management,” available at http://www.cuttingedgeinfo.com/research/medical-affairs/phase-iv-clinical-trials/, contains per-patient cost benchmarks, patients-per-site, patients-per-investigator and other key metrics for five types of Phase IV studies. It includes metrics covering the U.S., Europe and global operations as well as seven therapeutic areas.
The study supports medical affairs and scientific communication decision-making on key goals identified by benchmark partners including:
- Explore key Phase IV benchmarks by company size and geography.
- Allocate clinical trial budgets based on concrete benchmarks that enable teams to hit goals and support all studies.
- Understand and designate clear roles and activities for Phase IV management teams.
CONTACT:
Cutting Edge Information
Elio Evangelista, +1-919-403-6583
KEYWORDS: United States North America North Carolina
INDUSTRY KEYWORDS: Health Clinical Trials Hospitals Pharmaceutical
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