arge pharmaceutical companies conduct clinical trials to evaluate efficacy and identify safety issues for candidate drugs as effectively, efficiently, and expeditiously as possible, while addressing simultaneously the requirements of regulatory authorities across the globe. To put the fewest people at risk and to learn the most, these trials often are configured to provide evidence for health care providers, regulatory approval, and reimbursement from health agencies. Because there are so many unknowns, pharmaceutical research and development is a high-risk business with the highest failure rate for new product candidates of any industry.
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Michael Rosenblatt (2017) studied this question.
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