FDA Announces Drug Approvals in 2014 First Quarter

Working as an automation validation engineer for Pennsylvania-based Panacea Technologies, Inc., Jacob “Jake” Newberger creates equipment with PLC, Batch, SCADA, and DCS systems. In the summer of 2006, Jake Newberger worked as an intern for Prototype Productions, Inc., located in Ashburn, Virginia, where he helped with the design and assembly of biomedical devices. He remains interested in the research and development as well as manufacturing of pharmaceuticals.

Each quarter, the U.S. Food and Drug Administration (FDA) announces its list of pharmaceutical drug approvals. In the first quarter of 2014, the FDA approved six new molecular entities (NMEs). Compared with the same quarter in the previous year, this is a decline in approvals, since nine were approved in 2013. This marks the lowest number of approvals in a single quarter since 2000. In 2013 alone, the FDA approved 27 drugs, compared with 39 in 2012. Experts claim this decrease is due to decline in drugs submitted for review.

With the recent influx of public healthcare programs, customers are demanding lower costs for their pharmaceuticals. To remain competitive, analysts stress that the U.S.-based manufacturers must find ways to reduce their overall costs, otherwise insurance companies may seek pharmaceuticals from other countries.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s