The Alliance for a Stronger FDA, an advocacy group made up of medical and food industry groups, released a white paper Monday examining the “far-reaching and positive” economic impact that a strong, well-funded U.S. Food and Drug Administration can have on the American economy.
“Most policymakers have heard that FDA-regulated industries account for nearly 25% of U.S consumer spending,” said Nancy Bradish Myers, president of the Alliance for a Stronger FDA and president of Catalyst Healthcare Consulting. “However, many have not thought about the major negative economic impact if FDA, the primary regulator of those industries-which employ millions and are net exporters of U.S. products–is not adequately funded by federal dollars.”
Myer believes FDA is critical for economic expansion.
“[FDA] is one of the reasons that industry, patients and consumers support a strong, appropriately funded FDA that has the resources to assure that our foods are safe and our biopharmaceutical, medical devices and vaccines are safe and effective,” she said in a statement.
The Alliance for a Stronger FDA white paper, entitled “The U.S. Food and Drug Administration: A Cornerstone of America’s Economic Future” provides information about FDA’s regulatory responsibilities and authorities over the U.S. food and drug supply.
“Food contributes nearly $1.2 trillion to our economy, or 8% of the U.S. gross domestic product. Ensuring the safety of our food supply is as essential as providing for our national defense,” said Caroline Smith DeWaal, an Alliance Board Member and Director of Food Safety at the Center for Science in the Public Interest. “Protecting our food supply is a major part of FDA’s mission, and both the food industry and consumers benefit from a strong FDA and a growing economy.”
“No agency with a critical role like FDA’s should be asked to do more, with less,” said Margaret Anderson, vice president of the Alliance and Executive Director of FasterCures. “If we are to advance medical progress and improve patients’ lives-which will significantly bolster the US economy-we need to start making the FDA a national priority.”
The Alliance’s 180 members, which include consumer, patient, professional and research groups, companies, trade associations, and individuals-represent millions of Americans who support increased appropriated funding for FDA.
The full report – The U.S. Food and Drug Administration: A Cornerstone of America’s Economic Future — can be downloaded here: http://strengthenfda.org/© Food Safety News