Phase 3 Clinical Trial The Facts
Have you ever wondered how new drug products are tested and then put out on the market? Have you ever wondered who tests these drugs to make sure they are safe for public consumption? Well, all of your answers can be explained through the phase 3 clinical trial process in the United States.
Thanks to the pharmaceutical industry, many deadly diseases have been cured. For instance, Hepatitis C once required life-long treatment and potentially a liver transplant. Today, 90-95% of patients can now be cured after receiving an 8 to 12-week drug treatment. While some believe this industry is potentially dangerous it is important to not lose track of the great work that has been done!
As of 2017, the research-based pharmaceutical industry spends $149.8 billion on research and development, according to The International Federation of Pharmaceutical Manufacturers and Associations. This money will go towards the phase 3 clinical trial process to help research side effects and results of the drugs. That way, these drugs can be regulated and the United States population can be protected from dangerous side effects.
As of 2014, five of the world’s leading 11 research and development firms were pharmaceutical companies, according to The International Federation of Pharmaceutical Manufacturers and Associations. As a result, it is important that you make sure you look into the phase 3 clinical trial process. People should be knowledgeable of what these companies and businesses are doing throughout the country.
By 2020 the global pharmaceutical industry will grow to reach a total value of $1.43 trillion, according to The International Federation of Pharmaceutical Manufacturers and Associations. This industry is reaching a point where it definitely intersects with almost every American citizen. Thus, people need to have some knowledge of phase 1 drug trials, a phase 2 clinical trial, and phase 3 clinical drug trials.
The United States patent term for new drugs is 20 years, and patented drugs are eligible for five years of market exclusivity, which depends on the time between patent approval and the United States Food and Drug Administration, shortened to FDA, approval. Phase 1 clinical trials are important and people need to understand the facts on phase 3 clinical trial and more!
According to a 2016 report from the International Trade Association, there are an estimated 100,000 over-the-counter drug products marketed and sold in U.S. stores. Of the more than compounds under pharma researchers’ microscopes in 2015, only 56 were launched as new medicines, according to the European Pharmaceutical Review. People need to be informed of what kind of work these drug companies are doing and how it can change their lives for better or for worse.
If you exclude oncology treatments, the overall probability of success or POS, of a clinical trial is about 20%, according to a new MIT study. Oncology drugs have a POS of just 3.4%. These statistics are important because they separate a safe drug from a dangerous drug and keeps the lives of Americans safe from horrific side effects. Understand that a 2018 MIT research project examined 185,994 unique clinical trials involving 21,143 compounds, held between 2000 and 2015. MIT researcher Andrew Lo found a higher overall success rate than previous studies, with the overall chances of success at about 10%.
Phase two clinical trials involve a larger group of people than phase one trials, and these studies can take up to two years. There are typically four key phases in clinical trials. Phase one tests safety in human use; phase two tests the drug’s effectiveness at treating disease; phase three tests large-scale safety and effectiveness; finally, stage four tests long-term safety.
If you are someone that is at all curious about phase 3 clinical trial information and more. Take time to seek out all of the avaialble information on the internet. That way, you can be informed as to how drugs make it onto the open market!