FDA, SEC Sign MOU on Sharing Info on Medical-Product Companies

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FDA and the U.S. Securities and Exchange Commission have agreed to strengthen cooperation and share information involving companies and products regulated by the agency. Under a new three-year memorandum of understanding, the agencies will establish procedures for exchanging both public and certain non-public information when it is relevant to their regulatory and enforcement responsibilities.

The agreement is intended to help the SEC evaluate whether firms are making accurate disclosures about matters such as FDA reviews, product approvals and clinical trial results. It also provides for secure exchanges of confidential information and sets restrictions on its further disclosure.

Both FDA and SEC said the arrangement is designed to improve regulatory oversight while protecting confidential business and other legally protected information. Acting FDA commissioner Kyle Diamantas said greater information-sharing would help protect patients and strengthen public trust in the life-sciences sector.

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