BEST MEDICINES FOR OUR BEST FRIENDS
With this strategy, we expect higher success rates, lower cost of development, and faster time to market. We expect, for example, 70% success rate, which greatly surpasses 5-10% success rate that is the norm in drug development of new chemical entities. We develop our biologics for an average of $8 million in approximately six years. The market for veterinary drugs may only be one-tenth to one-half of the size of the human market, but the cost of development is about 1/100th. This makes our ROI very attractive and is consistent with our mission of delivering favorable returns for our shareholders, while at the same time improving and saving the lives of pets.
1. Pet industry market size & ownership statistics. American pet products association. Available from: http://www.americanpetproducts.org/press_industrytrends.asp [Access Date: March 31, 2020]