Key Panel Ok's New FDA Bill

An influential congressional panel has passed legislation shepherded by U.S. Rep. Joe Pitts to impose higher fees on the medical device industry to pay for speedier government reviews of its products. The legislation would be a boost for investors and businesses trying to get their devices approved by the Food and Drug Administration and would help maintain the United States' status as the leader in the development of new products Pitts said. "In order to maintain this edge we need FDA reviews to be transparent and predictable" Pitts a Republican who represents Lancaster County said in a prepared statement announcing passage of the bill.