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Innovative Drug Approval

Meaning

Innovative drug approval refers to the expedited or novel regulatory pathways utilized by agencies like the FDA or EMA to accelerate the review and authorization of new pharmaceutical agents that address serious or life-threatening conditions and offer significant therapeutic advantages over existing treatments. These mechanisms, such as Fast Track, Breakthrough Therapy, or Accelerated Approval, aim to bring essential medicines to patients sooner. The process involves a risk-benefit assessment that judiciously balances the urgent need for timely access with rigorous safety and efficacy standards.