This document summarizes regulatory perspectives on approving drugs for rare diseases from a presentation given by an FDA official. It provides an overview of drug development for rare diseases before and after the 1983 Orphan Drug Act. While the Act increased incentives for rare disease drug development, approval challenges remain due to small patient populations and lack of understanding of rare diseases. The FDA aims to apply flexibility in effectiveness standards and innovative trial designs and analyses. Ongoing collaborations between the FDA, industry, academia, and patient groups are needed to continue advancing treatments for rare diseases.