There is a high failure rate and high cost for clinical trials and FDA approvals.
Here is a video that goes through the problem.
80% cannot recruit enough patients for clinical trials.
50% do not have a problem with the drug, but need to redesign the trial (change the dosage or the procedure) and do not have the money to redesign and go through the process again.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.