Clinical Trials means study of the drug which involves the testing at very stages and at various cells in order to make sure that the drug is safe and effective and in turn it can be launched into the market.
Every day is a new day and it is very true in case of drug discovery as well. Each day new discoveries are happening in various Clinical Research Labs. But these drugs can not be introduced into the market without the approval of the approving authorities. These approving autorities might be different for different geography.
All the drug approving authorities have some norms and in order to fulfil those norms, the pharma companies have to submit the result/report to this authorities in standard format. These reports are actually the outcome of the clinical trials.
It takes on an average 15 years of clinical trials before the drug can get introduced to market.