The Food and Drug Administration may be digging a huge hole for itself by singling out drug pricing and opioid abuse for priority and focused attention.
With all the talk of regulatory reform from the new Trump administration, along with support from the industries subject to federal regulation, it is surprising that one industry that is perhaps the most heavily regulated of all is pushing back.
The media are engaged in active speculation about how Donald Trump will govern. Having gone through many transitions, seeing this process both from inside the government and outside, I know that speculation in the weeks after the election has little to do with what actually happens once a new president and his team take over. In the case of the Food and Drug Administration, a tiny agency by federal measurements but one with vast responsibilities, speculation at this point has had little bearing on what the future holds in store.
With some drugs now costing hundreds of thousands of dollars a year, who would have guessed that the latest poster child for high drug prices would be a product that sells for $600?
The Food and Drug Administration regulates 20 cents out of every dollar spent by American consumers on products, though, despite their relevance to the economy and their impact on the health of every American, the FDA is generally not high on Washington’s political radar.
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