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March 4th, 2005
Nano World: Nano to speed drug discovery
Nanotechnology soon could speed the discovery of blockbuster drugs, cutting down the roughly eight to 12 years and $900 million it takes currently to develop a new pharmaceutical, experts told UPI's Nano World.
"A new drug addressing a disease previously without an effective remedy has the potential to generate a revenue of $1 billion per year. It is a classic winner-take-all industry, as the first mover with a revolutionary new drug usually takes over 75 percent of the market -- even years after initial discovery," said Nelesh Patel, an associate analyst with NanoMarkets, a research firm in Sterling, Va.
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