The use of computer modeling to simulate randomized control trials as a means to lower pharmaceutical costs

Chen, Terence (2013) The use of computer modeling to simulate randomized control trials as a means to lower pharmaceutical costs. Master Essay, University of Pittsburgh.

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Abstract

The cost to develop new drugs has been steadily rising in the past 30 years. It is estimated in 2005 that the average cost to develop one new drug is $1.3 billion dollars. This amount of money is a significant cost borne by pharmaceutical companies which is then passed down in the healthcare system. However, this significant cost borne by pharmaceutical companies leads to decreased innovation and risk because of the need to successfully put the drug to market. To be more specific, a significant contributor to the astronomical cost of the development of new drugs is Phase III testing in clinical trials. This paper explores the possibility of using a validated computer model such as Archimedes to simulate the control group of a Phase III trial in order to decrease costs. In addition, the computer model could help predict differences in the trial groups. In allowing validated computer models to lower the cost of Phase III clinical trials, pharmaceutical companies can be more aggressive in their solutions, developing drugs at a cheaper cost and provide faster innovation. In addition, computer modeling can streamline the clinical trial process, increasing efficiency of drug testing and ultimate providing for a better healthcare system.

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Details

Item Type:	Other Thesis, Dissertation, or Long Paper (Master Essay)
Status:	Unpublished
Creators/Authors:	Creators Email Pitt Username ORCID Chen, Terence
Contributors:	Contribution Contributors Name Email Pitt Username ORCID Committee Chair Roberts, Mark S mroberts@pitt.edu MROBERTS UNSPECIFIED Committee Member Zgibor, Janice C. edcjan@pitt.edu EDCJAN UNSPECIFIED
Date:	April 2013
Date Type:	Submission
Defense Date:	29 April 2013
Submission Date:	1 August 2013
Access Restriction:	No restriction; Release the ETD for access worldwide immediately.
Publisher:	University of Pittsburgh
Institution:	University of Pittsburgh
Schools and Programs:	School of Public Health > Health Policy & Management
Degree:	MPH - Master of Public Health
Thesis Type:	Master Essay
Refereed:	Yes
Date Deposited:	11 May 2015 22:04
Last Modified:	01 Sep 2023 10:55
URI:	http://d-scholarship.pitt.edu/id/eprint/18701

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