The Tufts Center for the Study of Drug Development estimates the average cost of developing a new biotechnology product to be $1.2 billion, which reflects the costs of drugs that fail in testing and the time costs associated with bringing a new biopharmaceutical to market. Of this amount, out-of-pocket preclinical cost totaled $615 million, while similar clinical period cost totaled $626 million. According to the Tufts CSDD analysis, clinical development and regulatory review for a new biop...