Value of commercial clinical trials
James O'Shaughnessy
Senior Partner at Newmarket Strategy // Member of UK House of Lords // Author, UK Review of Commercial Clinical Trials
When I published my review on commercial clinical trials in May last year, one of the messages I wanted to promote was their economic and financial value to the UK. The review's own research showed that that decline in trial activity from 2017-22 had cost the NHS nearly ￡1bn in foregone income and value over 5 years.
Inevitably, given the timeframe of the review, our analysis was based on existing data - some of which was several years old - and we didn't have the chance to commission more detailed research. Happily the ABPI and Frontier Economics have filled that gap with a superb, crisp and rigorous paper. It shows that the value of commercial trials is even greater than anticipated.
In 2022:
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ABPI & Frontier Economics estimate that if we returned commercial trial activity to just 2017 levels, an extra ￡3 billion (and 26,000 more jobs) would be contributed to the economy, including an additional ￡486 million of revenue to the NHS and (5,000 of those additional jobs). I imagine you could roughly double those figures if the UK achieves the 100,000 per year recruitment target that I proposed in my review, and which the previous Government accepted.?
The Labour Government has a strong and welcome manifesto commitment to "maximise our potential to lead the world in clinical trials". The question, as ever with policy, is how do we pay for this? What the ABPI & Frontier Economics research shows is that the answer - in large part, anyway - is through the private sector. At a time when money is tight and the new Government has 3% R&D target to hit, maximising commercial trial activity and investment is the best route to success.
Professor of Biomedical Innovation, School of Biomedical Sciences, Ulster University
1 个月We need to set up GMP manufacturing for clinical trial supply in the UK. If you have your clinical batch manufactured in the US then you are more likely to run your trials in the US.
CEO. D Odegard Agencies Ltd. Head of Business Development. Ryah
2 个月You have got to get government involved in financing, CLINICAL TRIALS. look at your Canpain clinical trial. Hasn’t started, over a year after approved. No, the idea of industry funding the trials is a joke. Look at Jazz / GW Pharma. A monopoly. Sorry, not impressed with the situation.
Physician & Explorer. Founder, CEO @WellFounded. Researching the limits of human performance & healthy longevity.
2 个月The UK remains the best possible place in the world with its population diversity, excellent science and sites and single payor health system to run trials. Leverage this. Don’t haemorrhage it. There’s not a lot of economic benefit running blood loss clinical trials only of course. :)
Head of Study Set-Up, Community and Social Care, Primary Care at NIHR (National Institute for Health Research)
2 个月Thank you for sharing this insightful update. The potential for ￡3 billion in additional contributions and 26,000 new jobs is substantial. In times of fiscal constraints, maximizing commercial trial activity is clearly the most sustainable path forward, especially with the new government’s R&D goals in mind.
Evidence Generation in MedTech
2 个月Would be really interesting to understand the impact for cTIMPS vs medical devices trials and the associated recovery and revenue particularly since Regulations, routes to market and reimbursement affect pharma and device worlds differently.