New Drug Development Costs $2.6 Billion

According to Tufts, it takes $2.6 billion to develop a new drug. The Tufts Center for the Study of Drug Development calculates the amount of money actually spent is nearly $1.4 billion and almost another $1.2 billion for opportunity costs. Their cost analysis included 10 drug makers on 16 randomly selected drugs that were first tested in humans worldwide from 1995 to 2007.

However, the Tufts Center calculation has many critics. They note that 40% of the center’s findings come from the pharmaceutical industry. This has started accusations that Tufts is justifying rising costs and rising prices for drugs. Critics also believe the centers transparency is an issue. The center presented a slideshow presentation about the methodology but the complete study will not be published until next year. 

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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