Analysis

Our data set derives from benchmarking of 14 biopharmaceutical companies, which provided access to detailed quantitative information from their internal systems, as well as qualitative and quantitative information from interviews with leaders of development and clinical operations. The companies varied widely in size, with annual R&D spending of between ∼US$200 million and >$5 billion. Their combined R&D spending in 2014 was >$50 billion, representing a significant fraction of industry activity. For each of these companies, we analysed the 2013 and 2014 data on Phases I–III and Phase IV interventional trials across all therapeutic modalities (including therapeutic vaccines but excluding prophylactic ones).

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