Adopting mainstream strategies in drug development
Discovering a new chemical entity to treat a disease is a time-consuming, risky and costly process. It can cost over one billion USD and 10-15 years to bring a new chemical entity to market with only a 1 in 10,000 success rate.
Drug repurposing or repositioning is a fairly recent but widely accepted approach that involves developing existing drugs for new diseases. This can significantly reduce the risk, cost and time for development.
Repurposed drugs now command 25% of worldwide drug revenues estimated at one trillion USD annually