CHEM 121 glossary
Drug discovery and development
The process that takes a medicine from a biological target through hit and lead discovery, lead optimization and preclinical testing, then clinical trials, regulatory approval and post-market monitoring. It typically takes 10–15 years, and most candidates fail along the way.
Example
Only about 1 in 10 drugs that enter Phase I is approved, which is why the cost per approved drug is often estimated at over US$1 billion.