A Drug Marketing Company Just Sold for $1.1 Billion At Auction

It costs $1 billion on average to develop a new drug in the pharmaceutical industry, according to the Journal of the American Medical Association.

That's the same price it costs to buy an entire marketing firm devoted to selling drugs. According to Axios, on Monday asset manager Nova plopped down a cool billion for Medical Knowledge Group (MKG), which specializes in getting those costly drugs to the right customers in the often arcane world of medical marketing.