Drug Companies Nervous About FDA Reg Rollback

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Drug company executives contacted by Reuters expressed anxiety about President Trump’s vow to roll back federal regulations at least 75%. They say they fear that a less robust FDA would make it harder to secure insurance coverage for pricey new medicines. The Biotechnology Industry Group told Reuters that in discussions with administration advisors, the trade group urged the administration not to name a new FDA commissioner who would act rashly to speed the agency’s approval of new medicines.

And executives at more than a dozen pharmaceutical and biotechnology companies told the news service that the agency is already adopting new drug development models and warned that a looser review process would put patients at risk.

“People often argue that FDA is too restrictive,” said Merck research and development head Roger Perlmutter. “We have the sense that the balance is pretty right. You have to have a well-characterized risk/benefit profile.”

While most industries welcome less oversight, Reuters explains, drugmakers say a robust review process is critical in convincing doctors and insurers that a pricey new medicine has value. “It’s great that the administration is seeking deregulation, to make sure the private sector can be more competitive,” said Alnylam Pharmaceuticals CEO John Maraganore. “But payers are looking for evidence of value.” He said that FDA should speed approval of generic versions of drugs that have lost patent protection, but warned that allowing novel products to be launched without extensive testing could be dangerous.

The article notes that some drug executives have been vocal about the need for deregulation, quoting Pfizer CEO Ian Read that reducing regulations “will help with drug prices, because it will induce more competition.”

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