The regulatory framework for new drug development involves a lengthy multi-step process including drug discovery, pre-clinical research, and clinical trials on humans to test safety and efficacy. Key aspects of the framework include guidelines from the International Conference on Harmonisation (ICH) to harmonize technical requirements globally, oversight of clinical trials by institutional review boards, and Good Clinical Practice (GCP) standards to ensure trials are scientifically sound and respect participants. The overall goal is to develop new medications efficiently and ethically while protecting human subjects.