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July 24, 2008 10:48:17 PM CDT

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Beefed-Up R&D Slows Drug Approval

Posted Jan 8, 08 5:45 PM CST in US,  Business,  Science & Health 

(Newser) – The FDA approved only 19 new drugs in 2007, the lowest total in 24 years. Bloomberg takes a look at the reasons. Some drug companies accuse the FDA of setting the bar higher for drug approvals, a charge the agency denies. Many, however, say the issue lies with big pharma devoting more attention to developing existing products than to creating new drugs.

"They got away from their core mission, which was to bring new medicines and new treatments to market,'' one expert says of the FDA. On the bright side, the drug companies are returning to a greater focus on new research, which should make next year a better one for new treatments.

Source Bloomberg

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GlaxoSmithKline had two drugs approved by the FDA in 2007 -- tied with one other company for the most.   (Getty Images)
Food and Drug Administration (FDA) Commissioner Andrew von Eschenbach testifies on Capitol Hill in Washington, Tuesday, July 17, 2007, before a House Energy and Commerce subcommittee hearing on food...   (Associated Press)
The company logo of GlaxoSmithKline, is seen on the headquarters building in London, in this May 10, 2006 file photo. GlaxoSmithKline PLC is expected to release quarterly earnings on Wednesday, April...   (Associated Press)
Barbara Waks, 69, of Aventura, Florida, shows a container of pills she bought in Canada, where she estimates that she can save $200 a month on her drug bill.   (KRT Photos)
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