What’s Happening Right Now in the Pharma-Biotech Market—Even Bigger Than Semiconductors
What’s Happening Right Now in the Pharma-Biotech Market—Even Bigger Than Semiconductors? A single small pill that we casually buy at a pharmacy embodies 15 years of development and an astronomical investment exceeding 2 trillion KRW (approx. $1.5 billion). Furthermore, the probability of an initial candidate compound reaching final market approval is less than 0.01%. What dramatic stories unfold during clinical trials amidst this relentless quest to conquer human disease? In the 1990s, Pfizer conducted Phase 1 clinical trials for "Sildenafil" as an angina medication; an unexpected side effect instead gave birth to the blockbuster drug "Viagra." In the 1970s, Upjohn’s blood pressure treatment "Minoxidil" similarly transformed into the world's most widely used hair loss treatment due to an unanticipated clinical side effect. In 2006, a Phase 1 clinical trial for a rheumatoid arthritis drug candidate (TGN1412) was conducted at Northwick Park Hospital i...