On November 5, 2024, the Patented Medicine Prices Review Board (PMPRB) released the latest edition of Meds Pipeline Monitor, an annual report that reviews new medicines undergoing clinical evaluation or in the pre-registration stage.
Key findings from the report include the following:
- In 2023, over 12,000 new medicines were undergoing clinical trials.
- The number of drugs in the pipeline is increasing by an average of 19% per year since 2019, when the first edition of the report was published.
- Cancer treatments represented one third (33%) of medicines in all phases of clinical trials. Other important pipeline therapies include those for infectious diseases (13%) and central nervous system disorders (12%).
- On average, 20% of medicines in Phase III clinical trials and pre-registration had an early orphan designation by the US Food and Drug Administration or European Medicines Agency. This is roughly a 33% decrease from previous years.
- 14 of the medicines listed in this year’s report have forecasted global annual revenues over US $1 billion by 2029.
- 15 of the 51 medicines listed in the 2022 edition of the report received market authorization.
Should you have any questions, please do not hesitate to contact a member of the Life Sciences Regulatory & Compliance Group.
The preceding is intended as a timely update on Canadian intellectual property and life sciences regulatory law. The content is informational only and does not constitute legal or professional advice. To obtain such advice, please communicate with our offices directly.