Is the actual cost of drug development upwards of a billion dollars

Not necessarily

The pharmaceutical industry spent a whopping $109.8 billion on research and development combined in 2015, and the FDA lost its mind approving 45 new drugs in the small molecule and antibody classes, the most in recent years, at an average of $2.44 billion a pop. Of course, that's not a very rigorous calculation. Innovative drug research and development is indeed a time-consuming and laborious but also requires a very high investment of resources and financial resources, the industry said that billions of dollars a new drug, is conditional. Not all new drugs need so much money, spent so much money on a new drug is intended to become a heavy bomb (annual sales revenue of more than one billion dollars of drugs).