Posts Tagged ‘drug companies’

The Wall Street Journal (1/2, Favole, Dooren) reports that the Food and Drug Administration (FDA) “approved more new drugs in 2008 than in any of the prior three years, a consolation of sorts to an industry struggling with greater scrutiny, thousands of layoffs, and thinning drug pipelines.” Specifically, the agency “approved 24 first-of-a-kind drugs in 2008, compared with 18 in 2007, 22 in 2006, and 20 in 2005.” In addition, FDA officials “approved dozens of other applications for new formulations or new uses of existing drugs.” But “few of the drugs approved in 2008 are likely to be blockbusters.” And, while the “pharmaceutical industry welcomes the approvals, industry analysts say 2008 will be remembered more for delays in the approval process.” The “agency missed its deadlines on 32 out of 159 drug applications through Oct. 31,” however, that may change because “legislation passed last year gave the FDA more money to hire additional drug reviewers along with other kinds of employees.” Yet, the legislation “also imposed new requirements on the agency that are now being implemented and are temporarily contributing to the slowdown in drug-approval times.”

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