FDA drug approvals enjoy positive trend

Two FDA initiatives have increased the number of drugs and biologics approved in recent years, but the pace is not likely to continue unabated.

Michael Zbinovec 26 January, 2018 | 6:00PM
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Morningstar Credit Ratings looks at approvals of novel medicines by the Food and Drug Administration as a proxy for innovation in the brand name pharmaceutical industry. The branded drug industry hit its stride having obtained 45 novel drug and biologics approvals from the FDA. This followed a down year in 2016 when only 22 new drugs gained regulatory approval. Out of this number, companies rated by Morningstar Credit Ratings accounted for 23 novel treatments, around one half of the total, with AstraZeneca leading the group with four. We understand that there can be substantial volatility in the approval numbers from year to year, so we recognize trends over multiple years as more insightful.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Amgen Inc254.21 USD1.16Rating
AstraZeneca PLC108.40 USD1.38
Eli Lilly and Co195.42 USD0.79Rating
Merck & Co Inc78.41 USD0.81Rating

About Author

Michael Zbinovec

Michael Zbinovec  Michael Zbinovec is an assistant vice president for Morningstar Credit Ratings, LLC. He covers the healthcare sector.

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