Blockchain for Clinical Trials Forum

Rising drug development costs (estimated between $161MM to $2Bn) and the length of time (anywhere from 7.5 to 12 years from clinical testing to marketing) are major barriers to innovation in drug development. Pharmaceutical companies conduct clinical trials with the goal to demonstrate safety and efficacy of the medicine to get the US FDA (Food to gain Food and Drug Administration) or other regional authority’s approval. Improving the drug development process, especially by conducting better (more safely and efficient) and faster clinical trials, will accelerate innovation in healthcare.