Today, the House passed H.R. 5651, the FDA Reform Act, on a bipartisan vote of 387-5. This bill increases accountability and transparency while also increasing the predictability and efficiency of the FDA so that the U.S. continues to be the world leader in medical innovation.
"This is a great example of bipartisanship and both parties working together to get important legislation passed," said Dold. "The 10th District is home to the biotech corridor and this bill will help to create an environment that fosters our competitive edge in medical development. Home to many of our nation's best pharmaceutical and medical device manufacturers, thousands of 10th district jobs will be supported through passage of this bill."
Background Information on H.R. 5651, the FDA Reform Act:
The United States has led the global medical device and biopharmaceutical industries for decades. This leadership has made the U.S. the medical innovation capital of the world, bringing hundreds of thousands of high-paying jobs to our country and life-saving devices and drugs to our nation's patients. U.S. medical device-related employment totals over 2 million jobs, and these are good, rewarding jobs as employees in the device industry earn an average of $60,000 per year. The U.S. biopharmaceutical industry is responsible for over 4 million U.S. jobs.
The significant policy reforms contained in H.R. 5651, coupled with the accountability and transparency measures in the user fee agreements, will address the lack of predictability, consistency, transparency and efficiency at FDA so we can ensure that the U.S. remains the world leader in medical innovation, device and drug jobs stay in the U.S., U.S. patients benefit first from new device and drugs, and FDA no longer wastes U.S. taxpayer and innovators' resources because of bureaucratic red tape. Further, the amended bill contains new language that the Committee believes will result in the bill reducing mandatory spending by roughly $350 million over ten years.