Drugs approvals hit a new high in 2017
With 46 novel medicines winning approval nods, U.S. drug approvals saw a 21-year high in 2017. It statistics to be believed, it is more than twice the last year’s. The European Union also saw a significant rise.
While European Union laid out recommendation for 92 drugs including generics, China came out with new strategies and plans to speed up approvals and has now become the world’s second biggest market behind the U.S.
Deloitte said 22 of the world’s top-listed drug makers projected returns of 3.2 percent, which was an eight-year low.
Most of the drugs that won approval in 2017 were for sub-types of cancer and rare diseases, which sometimes target comparatively smaller populations, however, they can cost thousands of dollars.