AI Drug Development Cuts Industry Costs But Not Patient Costs, Paragon Says

Pharmaceutical companies’ use of artificial intelligence and machine learning to more quickly develop drugs may not result in cost savings that are passed down to consumers, according to a new report from the Paragon Health Institute that argues other factors are likely to keep the cost of drugs high. Policymakers’ focus on the use of AI in drug development is increasing, with the Senate Appropriations Committee urging FDA in a report on its fiscal 2025 appropriations bill to convene a...