Many venture capitalists have reacted strongly to US Food and Drug
Administration (FDA) Commissioner Margaret Hamburg’s recent op-ed piece
in The Wall Street Journal contending that the agency’s
cautious approach to drug and device approvals actually helps spur
economic growth by increasing consumer confidence. FDA critics argue
that many innovative medical start-up companies have been forced out of
business or moved overseas because of what they say is a slow and
unclear approval process. In a letter to the editor of The Wall Street Journal,
entitled “The FDA Isn't as Innovative as It Likes to Think It Is,”
Skyline Ventures’ John Freund writes "Those of us on the front lines,
who see innovative healthcare companies from the inside in a way the FDA
does not, see the negative impacts of the FDA's approval process first
hand on a daily basis."
Read more: