Current status of innovative drug industry is briefly presented with emphasis on new biopharmaceuticals introduced in the years 1995-2007. Adverse effects and problems of safety and effectiveness of these pharmacotherapeutics are reviewed. A separate part of the manuscript is devoted to the newly introduced methods of molecular diagnostics based on pharmacogenomics and employed in personalized medicine. Theranostic approach consisting in a joint use of drugs and companion diagnostics are characterized.
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