Running clinical trials remotely or virtually can provide substantial financial savings for pharmaceutical companies, according to a new pilot study. And the findings may prompt still further use of such techniques, which have been increasingly adopted during the Covid-19 pandemic.
Specifically, remote or virtual methods — such as telemedicine and the use of other mobile devices — yielded a five-fold return on investment of $8.6 million, on average, for Phase 2 clinical trials. For Phase 3 trials involving experimental drugs, the study found a 13-fold return on investment of $41 million, on average, per medicine. And the return was $20.4 million when these methods were used during both trial stages.
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