Don’t Feel Like Sisyphus When Naming Your Drug
Drug Naming in 2016
Heading into the summer months, it’s a good time to consider what you’ve accomplished so far this year, and what’s ahead for the second half. For me the first half had been doubling up on serving clients and launching my new website.
Previously, I commented on a Forbes’ article that reported new drug approvals are at a blistering pace. In 2015, 51 products received the FDA’s blessing, making it the most productive year for the U.S. pharmaceutical industry in 66 years. And in 2016, more drugs are expected to make it through the regulatory gauntlet as well. This should make us cheerful.
But the problem has been that about half the time drug names for these products are rejected (globally).
Still, prospects are bright. FDA reports higher drug name approval rates due to new guidances. That means you don’t have to feel like Sisyphus anymore, pushing that boulder of drug name acceptance up the hill only to find that it rolls down after reaching the top.
So in the second half of 2016, be proactive with your drug naming. Don’t get sucked into waiting until the last moment to begin; think of naming your new drug or clinical trial as an investment, not a cost; and adhere to regulatory guidances. Drug naming is your opportunity to take a productive step forward for your business and for patients. Good luck!
Gary
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