Pharma CMOs may feel heat as USFDA approves fewer new drugs, GlobalData report says

Inflation and declining FDA drug approvals will pose challenges for pharma contract manufacturers in 2023, stated GlobalData in its latest report - ‘New Drug Approvals and Their Contract Manufacture – 2023 Edition’. The report said that USFDA’s new molecular entity approvals declined substantially in 2022, causing overall New Drug Application (NDA) approvals to drop, which meant fewer commercial-scale production contracts for the most innovative products.

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