ABSTRACT
The U.S. life sciences industry-a category that includes pharmaceuticals, biotechnology, and medical equipment companies-invests over $100 billion a year on research and development programs that aim to discover and develop new therapies to prevent, diagnose, cure, or alleviate diseases affecting humans and animals. These expenses are spread over a long time, often decades, from idea generation stage to marketed product. And, with only 1 of over 100 ideas turning into a commercially viable product, the risks are enormous.
