Accelerate Drug Development by 500 Days: McKinsey

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A McKinsey white paper says a “holistic” transformation of the drug development process could result in accelerating the development timeline by 500 days and reducing cost by 25%. “While there is no silver bullet,” the report says, “drug developers can make a concerted effort to apply and integrate multiple innovations that can transform development. In our estimation, it should be possible to bring medicines to the market 500 days faster, which would create a competitive advantage within increasingly crowded asset classes and bring much-needed therapies to patients sooner.”

The report lists five pillars that form the basis of development excellence: 

  •          patient- and healthcare-professional-centered design thinking, incorporated end-to-end from program and trial design to trial execution, approval, and launch;
  •          process redesign, both cross-functionally and within R&D groups, that improves speed of development and builds on research insights;
  •          digital and technology enablement that allows automation of highly repetitive processes alongside generation of new insights and data;
  •          advanced analytics (including predictive modeling), informed through internal and external data sources, that improves decision-making quality and speed; and
  •          agile ways of working, with a working model optimized for speed and decision making across the portfolio.

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