Number of Novel New Drug Applications Filed and Number of Novel New Drugs Approved by the Food and Drug Administration
The availability of new drugs often means new treatment options for patients, and advances in health care for the American public. For this reason, "innovation" is a key word throughout the pharmaceutical industry and the healthcare community.
Each year the Food and Drug Administration approves a wide range of new brand name and generic drug products, including biologic drugs. Many are duplicate therapies that will compete in the marketplace with the same kind of products already approved. However, some are truly new and innovative chemical structures never used before in clinical practice. Such novel new drugs are often called new molecular entities (NMEs). Many of these products offer new hope for patients suffering from the conditions these products are intended to treat.
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