Drug Approval Regulation: The Global Impacts

Abstract

People want prescription drugs to be efficient as well to assist them in treating their ailments. The need of drug regulations was generated in the twentiethcentury as a result of disasters, tragedies, and misfortunes with public health in the past. The legal regulatory document in the form of pharmacopeia came in existence to regulate quality and standard of the medical supplements given to patients. Today, the drug approval criteria in different pharmacopeias differ regionally. Because of the approval process variations, pharmaceutical businesses are facing difficulty in approving new pharmaceutical products for marketing in many countries simultaneously. The review contains regulatory requirements and also, economic and social impacts of variation on pharmaceutical businesses. An effort is made to find solutions by making regulatory requirements globalized.