Few new drug applications in 2003: BioPharma downturn to continue
The Financial Times reports that fewer new drug applications (and many of those applications actually for orphaned drugs--deemed too small a market for the original developer) were submitted to the European Medicines Evaluation Agency in 2002 and that the same is expected for 2003.
Posted by Mitch Ratcliffe at December 30, 2002 01:06 PM | TrackBack
The drought of new drugs looks set to continue after Europe's medicines regulator revealed that applications for approval had nearly halved.
The European Medicines Evaluation Agency said it had received only 31 applications in 2002, down from 58 the year before and 54 in 2000.
The industry has already suffered a miserable year with only 16 new drugs winning approval from the US Food and Drug Administration, against 24 last year - which was already considered low - and 1996's record 53.