FDA's New Drug Approvals Fall to Six Year Low

Turns out 2016 was a disappointing year for new drug approvals, as the United States Food and Drug Administration cleared only 22 new medicines for sale to consumers. This represents the lowest number since 2010, and is sharply down from 2015's total of 45 new drugs. The slowdown suggests the pharmaceuticals industry may be returning to a more normal productivity rate, following a spike in approvals in 2014 and 2015, when the clearance rate on new drugs introduced into the market hit a 19-year high. Despite the downward trend, most industry executives remain upbeat about the hunt for new medicines, given recent advances in fighting cancer and an improved understanding of the genetic basis of other diseases.