When I started taking pomalidomide, it was an investigational drug, not yet approved by the Food and Drug Administration.

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Pirfenidone is InterMune's investigational drug candidate for the treatment of patients with idiopathic pulmonary fibrosis to reduce decline in lung function.

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After completion of more pre-clinical studies, Short hopes to file Diversa's first investigational new drug application sometime next year.

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Over that time, the number of early (investigational new drug) and late stage applications filed with the agency has remained largely stagnant.

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There are eight new chemical entities in various stages of development that have generated four investigational new drug applications with the FDA. Since the payoff from these projects is far in the future, Ranbaxy's labs will continue pumping out generics, which net the company an aftertax margin of 16%.

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