Cost to bring an asset to market has declined over the past three years, as peak sales
The combined cohort’s average cost to develop an asset was $2,006 million, a decrease of $370 million
from 2020 (but nevertheless an increase of $710 million from 2013). This decrease in 2021 compared to
2020 is due mainly to the overall increase in the number of assets in the late-stage pipeline.
In 2021, the average forecast peak sales per pipeline asset for the combined cohort increased from $422
million in 2020 to $521 million in 2021. The variation in the range of forecast peak sales across
companies has also increased, which is driven by the sales forecasts for COVID-19 vaccines.