What are the critical steps and the duration from hypothesis to approved drug? The quest begins with an idea, such as blocking the action of a cancer-causing gene. That idea then launches a sequence of seven major steps that could lead to a new drug within the next 10 years. Pfizer will invest more than $7 billion in 2003 in its search for new medicines, or an average of $130 million each week, more than any other pharmaceutical company. As a whole, the pharmaceutical industry funds the largest private research and development enterprise in the world, collectively spending $32 billion on research alone in 2002.
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