Measure to Raise FDA Funds Goes to Obama
6/27/2012 8:40:43 AM
A measure that would generate $6 billion in fees over five years for the Food and Drug Administration is headed to President Obama for his signature after passing the Senate on Tuesday, a rare moment of bipartisan cooperation in a divided Congress. Although the FDA gets money from Congress each year, a big chunk of its budget comes from fees the agency negotiates with the makers of brand-name drugs and medical devices. The Senate bill, which passed 92 to 4, would renew those fee agreements but also, for the first time, require payments from companies that make generic drugs and from other firms in the industry.
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