CLEVELAND, Ohio — Food and Drug Administration Commissioner Margaret A. Hamburg announced Friday at the City Club of Cleveland that her agency will launch an "innovation initiative" that will make it easier for domestic companies to develop and receive approval for new medical products.
"This is a critical time for innovation," said Hamburg, who took over the reigns of the FDA a little more than two years ago. "Unfortunately, as we look at the medical product pipeline, it is distressingly sparse."
Executive Director of Cleveland Clinic Innovations Chris Coburn, whose job is to bring the hospital's medical inventions to market, said part of the reason the number of innovations have dwindled domestically is because of the costs associated with the FDA's length regulatory process, which is more complicated here than in Europe.
To read the full, original article click on this link: FDA announces new initiative to promote U.S. medical innovation | cleveland.com
Author:Teresa Chin, The Plain Dealer
