The pharmaceutical plants grew from their humble roots way back in the medieval times, providing patients with some of the best medicines available at that time for treatment of disease. The roots of this pharmaceutical industry actually lie in the ancient pharmacies and apothecaries that provided cures from different diseases depending on years of folk lore. But the modern industry as know it today actually has its roots in the mid-nineteenth century. With the onset of science and technology, the world has greatly changed for the better. With this development came the discovery of antibiotics and other medication that was able to wipe out deadly diseases that had plagued mankind for centuries.
Thus, pharma gained importance and a large market share during the early stages of development when many pharmaceutical products became available to the medical fraternity and public at large. However, the FDA (Food and Drug Administration) realized that the food and drug industry was not properly regulating drugs and their ingredients which was causing many deaths every year. With this realization, they set up the FDA and decided that only medicines that have official approval by the FDA should be sold to consumers. With the FDA in mind, pharma industries became worried and realized that there was going to be a change in the way they were selling their products. Thus the invention of the generic drug by several pharmaceutical companies made the entire process easier and streamlined.
A pharmaceutical company can only get approved for a particular medical device or a generic drug by the FDA. This means that if a company wants to get approved for selling a particular kind of drug, they would have to comply with all the regulations set by the FDA. This also means that any changes or alterations in those medicines would need the FDA’s approval as well. With this, many pharmaceuticals are now changing their way of doing business.
In addition to this, some of these companies are looking at providing assistance to patients. This was not always the case. In the past, as per the regulations of the FDA, pharmaceuticals did not provide help to patients, but provided expensive medicines for their own sake and that of their business. But with the introduction of pharmaceutical business strategies, these companies have started helping the patients suffering from various diseases such as cancer and other life threatening ailments through clinical trials.
As per a news report, a pharma manufacturing company in China has signed an agreement to manufacture and distribute tens of thousands of quality medical devices, including prescription drugs for premature babies. The baby drug, called favipirlovir, is used to treat infants suffering from microcephaly. It is believed that the introduction of this drug into the market may save millions of premature babies who are born dead because of a birth defect related to microcephaly. Such facts have made the entire pharmaceutical industry sit up and take notice of this development.
The trial trove is yet another promising product of pharma industries. This innovative product will be manufactured and supplied by a Chinese pharmaceutical company. The product, which is currently under trial, is said to reduce the level of allergens in foods that we eat. Hence, the pharma industry is again looking forward to innovate itself with new products like the Trial trove and other promising products that can transform the present pharmaceutical scenario in to a great one.