State of Drug Shortages and Recalls in 2023 - Key Insights and Proven Strategies

The life sciences industry is currently grappling with a daunting predicament – a staggering number of drug shortages in the US. Currently, there are over 309 active drug shortages as of Q2 2023, creating a significant challenge for patients seeking lifesaving treatments like chemotherapy drugs and antibiotics. A range of factors such as scarcity of raw materials, increased demand, and financial difficulties in the generic drugs industry have contributed to this crisis. To make matters worse, there has been a notable increase in recalls for pharmaceutical drugs and medical devices.