“More efficient clinical trials translate to reduced barriers to market for safe, innovative medicines, which is the ultimate goal of patients and manufacturers alike”- this statement from a recent article posted on BIO’s website speaks the truth. This is what we’re all after, but the question remains; how do we get there?
The Biotechnology Industry Organization (BIO) is determined to take steps in this direction with an initiative to modernize clinical trials. While it may seem like an oxymoron (after all we’re dealing with cutting edge technology in most clinical trials), research shows “that the overall efficiency of pharmaceutical research and development efforts has been declining steadily for more than 50 years.”
What can be done to stop this problematic trend? How can clinical trials be modernized? BIO’s main goals include:
- To identify the key issues driving increases in the cost and duration of clinical trials and prioritize the specific issues that are most important and impactful to BIO members;
- To coordinate and enhance ongoing efforts by external initiatives and public-private partnerships that are working to address priority issues; and
- To build support and advocate for specific, science-based policies to modernize the conduct of clinical trials
These efforts are all done with the hopes of bringing new, safe technologies to patients more effectively. However, BIO does point out that “Confronting the problem of increasing costs and durations of clinical trials in a meaningful way is a daunting task.” On the flip side, to accomplish this goal would be a win-win for patients and the industry.
What are your thoughts on this modernization endeavor? Do you have any recommendations to add to the list? We want to hear your thoughts below!
Photo Credit: Gilderic Photography