The value of one drug trial for healthcare is up to EUR 10 million
According to a study we at ESiOR carried out together with the Pharma Industry Finland, the value of the treatment of one clinical trial for patients is approximately EUR 1.2 million and the societal value for Finnish healthcare approximately EUR 10 million. Clinical trials commissioned by pharmaceutical companies bring significant direct and indirect societal benefits to Finland.
In practice, clinical trials advance medical knowledge and innovation and provide new opportunities for patients. “Clinical drug research helps to curb healthcare costs, as the pharmaceutical company conducting the trial covers the costs of the patient’s pharmacotherapy, nursing and follow-up that would otherwise have to be paid by society,” says Anne-Mari Virolainen, CEO of the Pharma Industry Finland.
The average societal value of clinical trials started over the past 6 years was approximately EUR 880 million. The cumulative value rises to EUR 5.3 billion. Nevertheless, the number of clinical trials has consistently decreased in Finland.
The assessment is available in Finnish: https://www.laaketeollisuus.fi/media/julkaisut/esitteita-ja-raportteja/240611-ltlt1-esior-laaketutkimuksen-yhteiskunnallinen-arvo-loppuraportti-11.6.2024.pdf
Additional information: Erkki Soini