President Barack Obama signs the Food & Drug Administration Safety & Innovation Act, enacting the doubling of the user fees medical device companies pay to have the FDA review their products.
President Barack Obama put his pen to the Food & Drug Administration Safety & Innovation Act today, making it the law of the land that the user fees medical device companies pay to have the FDA review their products more than doubles.
The med-tech industry and the federal watchdog agency spent months hashing out the terms of the deal, which ultimately boosted the user fees from $295 million over 5 years to $595 million, in exchange for the FDA meeting performance goals.
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