Washington Outlook: CAPITAL WRAPUP
FDA BE NIMBLE, FDA BE QUICK
Congress is finally moving to reform the Food & Drug Administration--cautiously. Senator Nancy L. Kassebaum (R-Kan.) is circulating a bill that would speed up FDA reviews of drugs and medical devices. One proposed change: allowing product approvals after one major clinical trial, instead of the current two. GOP hard-liners and some industry execs favor more radical deregulation. But companies are pleased that even modest FDA reform is under way at last.