The FDA has so far approved 44 percent fewer new drugs in 2018 than a year prior, according to a report from Fitch Ratings.
For the report, entitled "Global Pharmaceutical R&D Pipeline," analysts examined novel drug applications approved by the FDA's Center for Drug Evaluation and Research in 2017 and the first four months of 2018.
Here are three report findings:
1. The agency signed off on 10 new medications in the first four months of 2018, compared to 18 new drug products over the same time period in 2017.
2. Biologic approvals accounted for 30 percent of approvals in 2018, up from 29 percent in 2017.
3. The agency pushed through eight priority review new drug approvals so far this year, compared to nine during the same period last year.