VistaGen Therapeutics, Inc. (VSTA) Strategy Offers Foresight in Drug Candidate Approval Process
VistaGen Therapeutics believes the U.S. pharmaceutical industry is facing a drug discovery and development crisis. In 2012, the U.S. pharmaceutical industry invested over $48 billion in research and development. As a result the Center for Drug Evaluation and Research (CDER) of the U.S. Food and Drug Administration (FDA) approved a total of 39 novel drugs, known as New Molecular Entities (NMEs). In 2013, the FDA approved 27 NMEs. Despite the aforementioned monumental investment by the pharmaceutical industry, since 2003, the FDA has approved an average of 26 NMEs per year. VSTA believes the high cost of drug development and relatively…