ABSTRACT
Pharmaceutical medicine uses all the scientific, clinical, statistical, regulatory,
and business knowledge available to provide a challenging and rewarding ca-
reer. On average, it costs about $1.8 billion to take a new compound to market
and only one in 10,000 compounds ever reaches the market. There are three
major phases of drug development: (1) preclinical research and development,
(2) clinical research and development, and (3) after the compound is on the
market, a possible “post-marketing” phase.
