Merck Fast Tracks Lucrative Drugs
United States (US) based drug maker, Merck & Co., announced plans to fast track new drugs for regulatory approval. Last year, Merck said it planned to submit applications to the Food and Drug Administration (FDA) for two new competitive drugs early in 2015. Merck has developed an alternative to Gilead’s costly Hepatitis C drug. The drug maker will also submit a new lung cancer immunotherapy drug.
In 2013, Merck revamped its research and development (R&D) to cut spending on less lucrative projects and focus on high cost, high demand drugs. Apparently the overhaul has been a success as Merck has announced that it plans to submit its new drugs ahead of schedule. If the drugs are approved by the FDA on time, then they could be on the market later this year.