Former FDA Head Says Biotech Business Model 'is Basically Falling Apart'
Tuesday, August 26, 2014
Source: Albany Business Review
A former head of the U.S.Food and Drug Administration says the agency is holding back, rather than encouraging, the creation of groundbreaking new drugs.
Andrew von Eschenbach, commissioner of the FDA for more than two years until January 2009, said in an interview that as a result of FDA demands, drug trials have become too large and expensive. He said the FDA has become too "risk-averse" at a time when scientists in the pharmaceutical industry are moving forward like never before.
"The business model is basically falling apart at a time when the scientific possibilities are unbelievable," he said.