I agree with the above responses- R&D/Development phase seems to be the most expensive stage. The reason being that although one product may make it to the market and produce a great deal of profit for the company, there were many products similar to it, leading up to that point, that did not make it and cost the company a lot of money in time, resources, materials, storage, data analysis, contract manufacturing, and market analysis. For example, a bandage with infused anti-biotic may have gone through dozens of prototypes before deciding on that one since the size, color, shape, material, and antibiotic type & dose were analyzed prior to sale and this doesn’t include the paperwork that would be required to go with it.