FDA Fees to Review Drugs Would Be Unfrozen in House Bill
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About $1 billion in annual fees that Pfizer Inc., Medtronic Inc. and other drug and device companies pay the U.S. to review new products would be exempt from federal budget cuts under a bipartisan bill proposed in Congress.
Across-the-board budget cuts that began to take effect this year, known as sequestration, have kept the Food and Drug Administration from using all of the fees it collects. The bill introduced today in the House of Representatives shields that money and frees the FDA to put it toward product reviews.