One Bill Could Massively Improve Access To Lifesaving Drugs

One Bill Could Massively Improve Access To Lifesaving Drugs by Alex Tabarrok, Foundation For Economic Education
Senators Ted Cruz (R-Texas) and Mike Lee (R-Utah) have just introduced a bill that would implement an idea that I have long championed: making drugs, devices, and biologics that are approved in other developed countries also approved for sale in the United States.

Highlights of the “Reciprocity Ensures Streamlined Use of Lifesaving Treatments Act (S. 2388), or the RESULT Act,” include:

• Amending the Food, Drug and Cosmetic Act to allow for reciprocal approval of drugs, devices and biologics from foreign sponsors in certain trusted, developed countries including EU member countries, Israel, Australia, Canada and Japan.
• Encouraging the FDA to expeditiously review life-saving drug and...
  

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