Biotechnology drug discovery. Biotech drug development

Once a new drug has been discovered, the development phase begins, lasting between six and ten years. Prior to human trials, numerous preclinical tests must be carried out, including toxicological tests. After the preclinical phase, the three-phase clinical development phase can begin. This culminates in a marketing authorization application. After this development phase, an important question arises. Should the new company market the new product itself, or should it enter into licensing agreements? The advantages and disadvantages of these two business models will be discussed.