Transatlantic Tit For Tat
Executive Summary
Echoing other transatlantic rifts, FDA commissioner Mark McClellan argues that America, with its unrestricted drug pricing, is paying Europe's drug R&D bill. Pharma companies agree. European authorities-the only faction with the power to alter pricing policies-don't. But the public disagreement hasn't prevented closer cooperation between the FDA and the EMEA. The agencies' recently announced confidentiality agreement paves the way for better information sharing and could simplify the complex European regulatory arena. But it won't necessarily speed approvals-some drug firms argue that it may even slow them down.
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