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TeachMeFinance.com - explain clinical trial clinical trial The term 'clinical trial' as it applies to the area of drug testing can be defined as ' Phase I tests a new drug or treatment in a small group; Phase II expands the study to a larger group of people; Phase III expands the study to an even larger group of people; and Phase IV takes place after the drug or treatment has been licensed and marketed. (See Phase I, II, III, and IV Trials)'.
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