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Senate Passes Bill To Accelerate Medical Device Approvals
Mar. 18, 2016 09:54AM PST
Medical Device InvestingFortune reported that a Senate committee has approved a group of bills that aim to speed up medical device approvals by the Food and Drug Administration. The move is intended to increase funding for medical research and help move new products through the regulatory process quicker.
Fortune reported that a Senate committee has approved a group of bills that aim to speed up medical device approvals by the Food and Drug Administration. The move is intended to increase funding for medical research and help move new products through the regulatory process quicker.
According to the report:
The measures were approved Wednesday with bipartisan support across most of the issues, reported The Wall Street Journal. Democrats got on board after heavy negotiations that led to a budgetary boost for medical research at the National Institutes of health, as well as a simplified approval process for “breakthrough” products, and Republicans agreed to narrow the number of devices under that designation.
Diana Zuckerman, president of the National Center for Health Research in Washington stated:
We are concerned that the focus of these bills is on getting medical products to market more quickly, instead of making sure they are safe and effective.