A Review on Drug Approval Process in Regulated and Non-Regulated Markets”

摘要

This topic aims to explain and compare the different regulations and processes for approval of drugs in regulated and non-regulated market. The pharmaceutical industry is one of the highly regulated industries, to protect the health and well being of the masses. The overall objective of a stringent drug approval system is to ensure that medicinal products of acceptable quality and efficacy are manufactured. By law; all new drugs must first be shown to be safe and effective before they can be approved for marketing. A regulated market is the provision of services that is regulated by a government approved body. Drug approval standards in regulated countries are considered by many to be the most demanding in the world. Discovering a new drug, and shepherding it through various review process, can take many years. To a large degree, these costs are mostly associated with the clinical testing. Coming to approval of drugs in typical non-regulated markets, they are becoming an important player in drug manufacture, in particular, the production of generics. Many of the generics produced are now found in all parts of the world. In conclusion, this study deals with the comparison of drug approval requirements between various regulated and non-regulated markets that could result in a clear understanding of the market positions of different countries and most importantly revise regulations for a healthier tomorrow.