This month the American Psychiatric Association assembled experts from academia, the pharmaceutical industry, venture-capital firms, advocacy groups, and government agencies to discuss the serious decline in the number of medications being developed to treat psychiatric illnesses. The summit was moderated by Jeffrey Lieberman, M.D., APA president-elect and chair of the Department of Psychiatry at Columbia University along with Herbert Pardes, M.D., a former APA president and NIMH director who is president of the Scientific Board of the Brain and Behavior Research Foundation.
The common goal is to translate new science and technology into practice that enhances patient care. The group emphasized that support for research into psychiatric diseases and innovative therapies is crucial for ensuring that physicians have the best tools possible for treating those suffering from mental illnesses.
According to Psychiatric News, pharmaceutical research is notoriously risky, but drug development in neuropsychiatric disorders seems to be even riskier than in other diseases at the moment. The fact that so many molecules have failed late-stage trials makes these failures especially costly and makes the industry nervous. Several major pharmaceutical companies have announced that they would reduce or terminate neuropsychiatric drug development programs.
Read more at Psychiatric News