July 12, 2012
To create a more innovative and efficient healthcare system, the U.S. Food and Drug Administration (FDA) announced Monday that the President had signed The Food and Drug Administration Safety and Innovation Act (FDASIA) into law. According to a press release, the act will allow the FDA to collect user fees from companies that manufacture products for the medical industry to provide financial backing for reviews of certain products, such as innovator and generic drugs, as well as medical devices.
The review of new, cutting-edge drugs, as well as generic versions of blockbuster medications, will provide better access to higher quality products, but with much more transparency to the public than ever before, thus reducing the risk of North Carolina drug injuries. The agency plans to do this by increasing the number of inspections of manufacturing facilities. They also plan to decrease the approval time of new medications.
The act will also reinstate two previously de-authorized programs that advocate for the development and continuation of pediatric medical research. The two programs have been made permanent, and are no longer subject to reauthorization every five years.
The North Carolina Personal Injury Lawyers with HensonFuerst Injury Lawyers are curious to know what you think about this new measure that was recently approved. Will it be successful in reducing drug injuries and getting new and better products on the market? Tell us what you think by posting to our Facebook page.