FDA's $6.4 Billion Plan for Quick Reviews Moves to Senate

Published: May 21, 2012

A $6.4 billion effort to speed U.S. reviews of new drugs and medical devices is a step closer to law as the agreements Mylan Inc. (MYL), Pfizer Inc. (PFE) and other companies struck with regulators wind through Congress. The Senate is set to begin voting as soon as today on more than $2 billion in new fees that drug and device companies will pay regulators through 2017 to review their products for safety and efficacy. The figure includes $1.56 billion from generic- drug companies such as Canonsburg, Pennsylvania-based Mylan, which had been exempt from such review fees.

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