Government Will Help Develop New Medicines

Government Will Help Develop New Medicines

Whether or not it has anything to do with recent recalls and class actions law suits is unclear, however, there has been a substantial reduction in the pace at which new drugs are being produced, according to government officials. In response, the Federal Government is starting the National Center for Advancing Translational Sciences, a government drug research center to help pharmaceutical companies roll out new medicines.

The infusion of a billion dollars by the government is to ensure that recent discoveries related to illnesses like Parkinson’s do not go undeveloped. Many drug companies are holding back from developing medications, and holding the medical trials needed to complete research in areas like these, because they do not have the proper financial incentives to risk money. Industry estimates indicate that the cost of getting a single new medication through trials and research, and into its final form, can exceed a billion dollars.

According to the National Institutes of Health, research in the drug industry has been on the decline since the mid 1990’s. With the new government center, it is hoped that some of the research burden will be lifted allowing the drug companies to develop medications that take advantage of breakthroughs in the battle with disease.