Why the Biopharma Industry Faces a Staggering 91% Clinical Failure Rate

Clinical Failure Rates over the Decades: Yikes

I argue that the biopharma industry's defining statistic is its appallingly high clinical failure rate, which has hovered around 91% for decades. While the 1970s and 1980s saw slightly better success, modern science faces harder targets and no easy shortcuts. Unlike other industries, we operate under bizarre conditions where most candidates fail after massive investment, forcing us to maximize returns on the few successes we achieve.