The pharmaceutical industry is one of the most research-intensive industries in the world. Pharmaceutical companies invest billions of dollars every year in research and development (R&D) to bring new and innovative medicines to patients. The R&D process is long, complex and costly, and it can take up to 15 years to develop a new medicine from scratch. Every step of the R&D process is important, but the early stages are particularly critical. The first stage of R&D is discovery, where scientists identify and characterize a new target molecule that could have therapeutic potential. This is followed by preclinical development, where the new molecule is tested in laboratory and animal studies to assess its safety, efficacy and potential side effects. If the new molecule shows promise in preclinical studies, it will move on to clinical trials, where it will be tested in humans for the first time. Clinical trials are conducted in three phases, each involving increasingly larger numbers of patients. If a new medicine is found to be safe and effective in clinical trials, it will be submitted for approval to regulatory agencies such as the US Food and Drug Administration (FDA). Once approved, the medicine will be made available to patients. The R&D process is long, complex and costly, but it is essential for the development of new and innovative medicines that can improve the lives of patients.