It certainly doesn’t seem this way, but when you stop and think about the submissions to the FDA, those too have increased tremendously over the last year as well. With more drugs under development and the addition of more biotech R and D, who knows how many we could see coming this year, although it is getting more expensive each year to bring a new drug to market.
Medical devices are making a mark too in providing some potential device treatment plans where the option in the past has been limited to drugs, so I’m sure we might be in store for some additional devices to also hit the market and apply for approval this coming year. BD
WASHINGTON -(Dow Jones)- Federal regulators approved more new drugs in 2008 than in any of the prior three years, a slight consolation to an industry struggling with greater scrutiny, thousands of layoffs and thinning drug pipelines.
The Food and Drug Administration approved 24 new, or first-of-a-kind, drugs in 2008, more than the 18 approved in 2006, the 22 approved in 2006 and the 20 approved in 2005. Such drugs included Pristiq, an antidepressant from Wyeth ( WYE); Treanda, a treatment for certain types of leukemia and lymphoma from Cephalon Inc. (CEPH); as well as Amgen Inc.'s (AMGN) Nplate and GlaxoSmithKline PLC's (GSK) Promacta to treat a blood condition that involves low platelet counts.
The agency also approved dozens of other new drug applications for new formulations or new uses of existing drugs like an Allergan Inc. (AGN) glaucoma drug that was also found to enhance eyelashes and was approved last week for that use.
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