October 30, 2018
OAKLAND, CA The U.S. Food and Drug Administration (FDA) fails in its mission to advance public health by hindering product innovations in its web of bureaucracy and cronyism. In response, the Independent Institute has launched FDAReview.org to answer the question: Is the FDA itself safe and effective?
The FDA has the regulatory authority to determine which pharmaceutical drugs, medical products and devices can legally be prescribed, marketed and distributed in the United States. The agency is also charged with the regulation of tobacco products, and ensuring the safety of the nation's food supply, cosmetics, and products that emit radiation.
FDA Commissioner Scott Gottlieb, M.D. expresses a strong desire to deregulate and open up drug markets for entrepreneurship. However, many of Gottliebs efforts attempt to deregulate by regulating, muddling expansions and contractions of regulatory power.
Such good intentions can yield harmful outcomes. Over time, approval rates for new drugs and devices have declined. The costs associated with approval have risen. Increasingly, more Americans travel overseas to receive unapproved treatments to avoid waiting for the FDAs approval.
With drug prices rising, healthcare quality diminishing, and the FDAs role in the healthcare market expanding, its more important than ever to put the FDA to the test. Further, with the incredible recent advances in healthcare technology, many of the FDA's responsibilities might be better handled by the private sector, says Raymond March, Ph.D., Research Fellow at the Independent Institute and Director of FDAReview.org.
The agency employs a stringent approval process to ensure safety and effectiveness. However, the FDA's rules on information disclosure and its role on making drugs more expensive are clearly part of the problem.
FDAReview.org will utilize the substantial research team of the Independent Institute, which networks with scholars to conduct multi-disciplinary research that combines the highest caliber of health science with economic and legal analysis. The objective is to identify sound scientific findings that have direct bearing on health issues and to investigate innovative policy options.
The site will contain a regularly updated blog with information on how the FDA impairs the healthcare market, as well as other products it regulates. There is much less information available on what alternatives exist. FDAReview.org will fill this gap for consumers of all ages looking for free market solutions to todays healthcare crisis.
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The Independent Institute is a non-profit, research, and educational organization that promotes the power of independent thinking to boldly advance peaceful, prosperous, and free societies grounded in a commitment to human worth and dignity. For more information, visit www.independent.org. For media inquiries, contact Communications Manager Rob Ade: [email protected]; (510) 632-1366, ext. 114.