The life sciences industry is critical to job growth in Indiana. We need federal policies that encourage innovation and investment in this important sector rather than prohibitive regulations. The FDA's regulatory review and approval process takes too long, has too much red tape, and has far too uncertain for small businesses and entrepreneurs.
The FDA should be transparent and should work within a framework that fosters innovation. There needs to be a streamlined approval process for drugs and devices like the one approved by European regulators, who tend to move products to market much faster than the U.S. A more streamlined and efficient process will result in improved health care, lowered health care costs and will create successful businesses and high wage jobs.