Drug Innovation Stalls Despite R&D Spending: Report

Law360, New York (January 4, 2007, 12:00 AM EST) -- The pharmaceutical industry has been dragging its feet in developing new drugs even as it pours more cash into research efforts, according to a government report.

The number of new medicines to receive the green light from U.S. regulators reached nearly an eight-year low in 2006, while the number of medicines recommended for sale in 2006 and 2005 fell from the annual average of 26 drugs recorded in the previous six years, Bloomberg News reported on Thursday, citing U.S. data.

But while drug innovation slumped, the...
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