Table 1. The Pharmaceutical Value Chain [17].

	Early Stage Discovery	Late Stage Discovery	Clinical Trials	Regulatory Approval
Description	Basic research (i.e., undirected research into the mechanisms that cause disease) and target identification and validation (i.e., identifying and validating points where drugs can intervene to disrupt disease)	Finding and optimizing lead compounds to ensure that they possess the properties needed to make an effective drug.	Determining the efficacy and safety of a drug/vaccine in people	Securing governmental authorization to sell a drug/vaccine