The number of approved medications in the first half of 2017 indicates that drug approval has gotten back on track this year, after a sluggish 2016. Only 22 medications were approved by the FDA in all of 2016, while 21 have already been approved so far this year. The European Medicines Agency has approved 42 drugs (which includes generic drugs, as well, unlike the FDA numbers), compared to 31 drugs in the first half of 2016. After a six-year low for drug approvals in 2016, there were concerns about an underlying issue within the industry or drug regulation, but the industry seems to be back on track in 2017.

Drug manufacturers have taken a different approach to drug development, with many companies now moving away from mass market drug products and focusing more on specialized medicines. Simultaneously, US regulators specifically have taken a new approach to drug approvals as well, such as approving a cancer drug based on genetics instead of the location of the tumor, which is accelerating the approval process (see Clinical).

Source: Reuters