Yet we have a system that has serious flaws. Flaws that causes us, in some cases, pain and suffering that might otherwise be unnecessary. We have given the power of approval of drugs to the FDA, the Federal Drug Administration. In order to provide us safe drugs they require well-planned scientific studies involving animals and then humans with some given placebos. Extensive peer review validates the data at all stages of the study including final approval.
Specific care is given to identifying side-effects detrimental to the patient.
The efficacy of the drug must greatly outweigh the side-effects. These scientific studies take years and it is said it costs 100's of millions and 12 years to get a drug through the approval process. To compensate, the company that complies with this procedure, secures a patent that gives exclusive rights to manufacture and sell the drug for 17-19 years. For this period the company can command the price the public will bear and after that period other companies make generic drugs that cost the consumer much less. This approval system is very active with companies scurrying to develop the latest drug or a slight modification of existing drugs to obtain patents and rake in the dough.