Usually means: Final testing before approval, commercialization.
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We found 11 dictionaries that define the word phase iii:

General (7 matching dictionaries)
  1. phase III: Vocabulary.com
  2. phase iii: Dictionary.com
  3. Phase III (album), Phase III: Wikipedia, the Free Encyclopedia
  4. phase iii: Rhymezone
  5. phase iii: FreeDictionary.org
  6. phase iii: Mnemonic Dictionary
  7. phase III: TheFreeDictionary.com

Computing (1 matching dictionary)
  1. phase III: Encyclopedia

Medicine (3 matching dictionaries)
  1. Phase III: HIV/AIDS Glossary
  2. Lay Terms for Consent Forms (No longer online)
  3. phase III: Medical dictionary

Definitions from WordNet (phase iii)

noun:  a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of phase III clinical trials it will receive formal approval from the FDA


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