MCA Reports Continuing Profits For 1993/94

The UK Medicines Control Agency posted a profit of L3.74 million ($5.9 million) for the financial year ending March 31, said Keith Jones, chief executive of the MCA, speaking at a meeting in London to discuss the agency's end-of-year report. The retained surplus for the agency, including the $3.6 million profit carried over from 1992/93, amounted to L7.35 million.

However, Dr Jones stressed that the agency's mandate requires it to break even and therefore the profit generated would be used to hold the license fees for 1994/95 to the previous year's level in order that it does not generate a profit in the next year. This will be the third year in succession that the fees charged to the industry have been maintained without increase.

Turning to the agency's performance over the year, Dr Jones said that the mean time for assessment of new drugs was reduced to 58 days, exceeding the agency's target for the year. During the year, 38 new active substances, representing 68 licenses were approved. In addition, reported Dr Jones, abridged applications of new products containing established drug substances rose to 1,164 (up 41%). The abridged application route was used by 56% of the applications for change of legal status from prescription-only medicine to pharmacy (POM-P).