After reading Fierce Biotech’s evaluation of the Top 10 Phase III Failures of 2010, I’m convinced that Phase III trials are more exciting than goose-pimple horror movies or the ups and downs of the NYSE.
If a pharma company succeeds, there’s lots (lots!) of money in the waiting. But losses can be excruciatingly high too. Fierce Biotech’s list of the ten worst Phase III drug candidate losers of 2010 is a catalogue of perfect pharma disasters:
Late-stage drug development always requires being prepared for the kind of catastrophic failure that can damage big pharma companies and utterly destroy a smaller outfit
This is the flop side of the usual story of greedy Big Pharma. They earn of lot of dough, yes — but they also lose a lot.