ITB HOLDINGS LLC | 390 North Orange Avenue, Suite 2300 | Orlando, FL 32801 | United States
+1 855-510-2240
DRUGS

Prescription & OTC Drugs, Active Pharmaceutical Ingredient (API)

DRUG MARKET

Global Drug Market will reach nearly $1.5 Trillion in 2022.

Most global spending growth, in developed markets, will be fueled by significant innovations in oncology, autoimmune and diabetes treatments.

The U.S. will continue as the world’s largest pharmaceutical market, contributing 53 percent of forecasted growth over the next five years, while China, the second largest market, contributing 12 percent of the growth.

The 5 biggest importers are the United States, Germany, Switzerland, China and Belgium, representing 42.5%.

By value, the following 15 countries purchased 70.6% of all prescription drugs and medicines imported:

 

CONTRY

VALUE

UNITED STATES$81.9 billion (18.9%)
GERMANY$34.4 billion (7.9%)
CHINA$21.5 billion (4.9%)
SWITZERLAND$25.9 billion (4.7%)
BELGIUM$18.33 billion (4.2%)
FRANCE$18.27 billion (4.2%)
UNITED KINGDOM$18.1 billion (4.2%)
JAPAN$17.3 billion (4%)
NETHERLANDS$11.7 billion (2.7%)
SPAIN$11.6 billion (2.7%)
CANADA$8.7 billion (2%)
RUSSIA$7.2 billion (1.7%)
AUSTRALIA$5.6 billion (1.3%)
POLAND$5.4 billion (1.2%)

Smaller percentages were delivered to Latin America (2.9%) excluding Mexico but including the Caribbean, Africa (2.7%), then Oceania (1.4%) led by Australia and New Zealand.

China has been the largest source of medicine imported into the United States, with India and Mexico vying for second and third.

Drug Imports & Exports Regulations

Any establishment (domestic and foreign) engaged in the manufacture, repacking, relabeling, or salvaging of drugs for commercial distribution in the United States, is required to register with the FDA, and list its products.

Establishment registration and drug listing data are submitted electronically. Parts of the data are published in the FDA National Drug Code DirectoryFDA label repositoryFDA drug establishment current registration site and NIH’s DailyMed.

There was a significant increase in overall registered facilities with 6,743 new registrants in 2020, the majority of which were hand sanitizer manufacturers.

1

FDA Registration

2

Product Listing

3

FDA compliant labels

FDA relies on establishment registration and drug listing information for:

  • Drug establishment inspections
  • Post market surveillance
  • Counterterrorism
  • Recalls
  • Drug quality reports
  • Adverse event reports
  • Monitoring of drug shortages and availability
  • Supply chain security
  • Drug import and export
  • Identification of products that are marketed without an approved application
1846
Drugs Misbranding

Here are the main issues:

  1. False or Misleading Benefit Presentation
  2. False or Misleading Claims about Efficacy
  3. Omission of Material Fact

Prescription drug advertisements and labeling (promotional communications) misbrand a drug, if they make false or misleading claims and representations about the risks associated with and efficacy of a drug.

The determination of whether a promotional communication is misleading includes, among other things, not only representations made or suggested in the promotional communication, but also the extent to which the promotional communication fails to reveal facts material in light of the representations made or with respect to consequences that may result from the use of the drug as recommended or suggested in the promotional communication.

Promotional communications include:

  • Emails
  • Websites
  • Social Media Platforms
  • Online Banners
  • TV Shows
  • Direct-to-consumer broadcast television advertisement (TV Ad or Commercial)

These violations are concerning from a public health perspective, because the promotional communication creates a misleading impression regarding the overall benefit a patient may expect as a result of the treatment, and minimizes the risks associated with taking the drug.

For your information, the Office of Prescription Drug Promotion (OPDP) of the U.S. Food and Drug Administration (FDA) reviews online promotional communication and sponsored links.

Drug Establishment Registration

Any establishment engaged in the manufacture, repacking, relabeling, or salvaging of drugs for commercial distribution in the United States, is required to register with the FDA, and list its products.

    Banner
    131
    OTC DRUG PRODUCTS
    PRESCRIPTION DRUGS
    ADVERSE EVENT REPORTS
    Editors’ Picks
    Editors’ Picks
    Video News
    Video News