Biotech Stocks Facing FDA Decision In January 2021

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As we head into a brand new year, there is optimism about taming the pandemic – now that we have a couple of vaccines on hand with over 90% efficacy and a few more in the advanced stages of the pipeline.

As for the *novel drug approvals, 53 drugs secured FDA nod in 2020 compared to 48 in 2019. *Novel drugs are new molecular entities (NMEs) having chemical structures that have never been approved before.

The year 2018 holds the record for the highest number of approvals with 59 novel drugs. The FDA has approved an average of 41 novel drugs per year over the past 10 years.