Biotech followers in 2003 were told that the time and costs for developing a drug are around 10 years and $800 million thanks to a study from Tufts that suggested those numbers. That money figure has ratcheted up since then, as most assume that, along with everything else, drug development costs are also steadily increasing. 10 years and $1.2 billion is tossed around these days, and seems like a fair calculation of inflation.  Read more