In the pharmaceutical industry, new medications face several challenges that can prevent them from becoming available to patients who need them most. This week, UK NICE (National Institute for Health and Care Excellence) rejected no less than 5 COVID-19 therapies because they did not meet requirements for public use. For patient advocacy groups and organizations campaigning for the introduction and adoption of some of these drugs, it’s alarming news. Why is it difficult to receive approval for new medications and drug therapies in the health sector?
A variety of factors can slow down the pharmaceutical industry and affect the ability to provide new medications for patients. Indeed, when other business sectors only need a solid business plan to approach the market, the pharma industry can face big hurdles before being able to bring their newest drugs to market. If you are wondering why NICE rejected drugs that many have been campaigning to use, here are the possible reasons for the decision.
Ineffective Clinical Trials
In order to test whether a medication is safe, effective and has the desired side effects, it has to go through clinical trials. Clinical trials typically consist of different phases during which testers research whether the suggested drug is safe and whether it offers better results than existing drugs. Unfortunately, trials can be time-demanding, and they may not show the expected results. It’s no wonder that many drugs fail during clinical trials in the early stages. Ideally, when it comes to testing new drugs, it’s essential to reach out to fast-growing clinical trial regions, such as the APAC CRO, ensuring effective execution and operations throughout the whole process.
Lack of Brand Awareness
Lack of brand awareness is one of the biggest challenges that can hold medications back. With so many drugs being developed every year, it’s hard for any lab to get enough publicity. Without effective marketing, laboratories can struggle to attract funding and interest. Indeed, running a brand marketing campaign for new labs and drug trials can prove beneficial to promote the objectives and innovation of the medication. Labs can face difficulties raising sufficient funding to develop and test new drugs when investors don’t get to hear about new businesses.
Sometimes, it just takes one thing to get in the way of a medication being approved. In some cases, these problems are out of your control and happen for reasons that you can’t anticipate. Sometimes though, it’s simply because timing is everything. One reason why medications may not be approved is if the market has other priorities. Indeed, if you consider the COVID-19 pandemic, organisations were forced to shut down trials for drugs that were not related to the coronavirus.
Innovation in the pharmaceutical sector is often held back by regulatory burden, not only within a single region but also presenting challenges between different countries. A drug that is approved in one country may not be legal in another, leaving patients sometimes without any suitable alternative.
It’s time to reconsider the pharmaceutical sector and break away from its existing shackles. Developing new drugs is an essential part of the healthcare industry. Yet, patients can find it hard to find the medication they need at the best possible costs. Perhaps, a transformation revolution within the drug development and experimentation process could support medical innovation and make medications less costly for all.