Reports: FDA Approved 39 Drugs in 2012

Even as generic drugs become more popular, pharmaceutical companies are continuing to get their products approved, as FDA data shows the agency approved 39 drugs in 2012, according to Reuters and Bloomberg. The total is the highest since 1996, when the FDA approved 53 drugs, and tied for the second highest since the FDA released figures beginning in 1990. The FDA also approved 39 drugs in 1997, according to Reuters.

At the AMCP educational conference in October, industry leaders discussed the growing trend toward generics, which account for more than 80% of prescriptions and could reach more than 85% market share within the next few years.

Still, Brian W. Kolling, PharmD, senior director of pipeline and trend forecasting for Medicare Part D at OptumRx, said some disease states have numerous drugs in the pipeline, including oncology. He said oncology drug sales could reach $100 billion by 2017.

Read the Reuters article here. It mentions revenues for major drug companies in the United States decreased by approximately $21 billion because of patent expirations.

Read the Bloomberg article here.

-Tim Casey