Biopharmaceutical research companies are conducting or have conducted more than 3,400 clinical trials of new medicines in collaboration with the state’s clinical research centers, university medical schools and hospitals (1999 to present).
Of the more than 3,400 clinical trials, 1,725 target or have targeted the nation’s six most debilitating chronic diseases—asthma, cancer, diabetes, heart disease, mental illnesses and stroke.
“The nation’s biopharmaceutical research companies are providing a steady source of revenue to local research institutions all over the state at a time when Michigan needs as many boosts to its economy as it can get. The industry, in collaboration with the state’s university medical schools and science centers, local hospitals and contract research organizations, has conducted nearly 3,500 clinical trials of new prescription drugs since 1999. Today, companies and their local partners are conducting nearly 400 trials of new medicines. That’s good news for some chronic disease sufferers who are still seeking the treatments best for them and it is certainly welcome news to Michigan’s research collaborators since clinical trials account for 45 to 75 percent of the $1.2 billion average cost of developing just one new novel treatment.” --Stephen Rapundalo, President & CEO, MichBio