Significance of Market authorization
Market authorization is a critical legal endorsement that allows pharmaceutical products to be sold in Canada, contingent on meeting health and drug regulations. It involves formal approval granted to pharmaceutical companies for marketing a drug in a specific market. This authorization is provided by regulatory agencies following thorough evaluations of the drug's safety and efficacy, ensuring that only compliant and safe pharmaceutical products reach consumers.
Synonyms: Regulatory approval, Approval, Registration, Clearance
The below excerpts are indicatory and do represent direct quotations or translations. It is your responsibility to fact check each reference.
The concept of Market authorization in scientific sources
Market authorization is a legal endorsement allowing pharmaceutical products to be sold in specific markets, such as Canada, following regulatory evaluations of safety and efficacy, thereby ensuring compliance with health and drug regulations.
From: World Journal of Pharmaceutical Research
(1) Official approval granted to a pharmaceutical product, allowing it to be marketed and sold in a specified region or country.[1] (2) Official permission granted by regulatory authorities which allows a pharmaceutical product to be marketed in a specific country.[2] (3) A legal endorsement allowing a pharmaceutical product to be sold in Canada, based on compliance with health and drug regulations.[3] (4) The formal approval granted to a pharmaceutical company allowing the sale of a drug in a specific market.[4] (5) Market authorization is the official approval granted by regulatory agencies allowing pharmaceutical companies to market a drug following rigorous evaluations of its safety and efficacy.[5]