– U.S. FDA approves 41 novel medicines in 2014 vs 27 in 2013
– New treatments for cancer and rare disease fuel rise
– High cost of new drugs leads to tensions with insurers

"The U.S. Food and Drug Administration's Center for Drug Evaluation and Research approved 41 novel medicines in 2014, 14 more than a year earlier, according to its website. That tally is second only to the all-time high of 53 approvals reached in 1996."

"The European Medicines Agency, which includes generic drugs in its list, recommended 82 new medicines last year, up from 79 in 2013 and 57 in 2012."

"Nearly 40 percent of new drugs approved in the United States last year were for rare diseases, underscoring the industry's focus on specialised products where competition is limited and annual costs often exceed $100,000 per patient."

From +Reutershttp://ow.ly/GLWDu

Pharma and biotech on a roll as drug approvals hit 18-year high


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