Time-to-market is one of the most crucial determinants of success in the pharmaceutical industry. The shorter the time between your competitors’ first hearing about your potential new drug and that drug’s introduction into the marketplace, the longer you will reap the rewards of sole ownership of the niche.

Pharmaceutical companies have invested heavily in speeding the technical aspects of new drug development. R&D resources have been upgraded, clinical trials are planned and conducted with an increased focus on maximizing throughput, and many companies have even taken steps to streamline their dealings with regulators on a global basis. All of these changes have allowed them to bring products to market more quickly.