The document summarizes the new drug development process, which takes 10 years and costs $500-1000 million on average. It involves preclinical studies in animals to test safety and efficacy, followed by clinical trials in humans in four phases to further assess safety and efficacy. If successful in clinical trials, the drug receives marketing approval from regulatory authorities. Post-marketing surveillance continues to monitor long-term safety and effectiveness. The goal is to develop new drugs that are clinically safe and effective as well as economically viable.