Media Release: March 7, 2011
FDA AND ITS REGULATED INDUSTRIES ARE A CORNERSTONE OF U.S. ECONOMIC GROWTH AND JOB CREATION
Alliance for a Stronger FDA Releases Report on FDA’s Positive Impact on the U.S. Economy
WASHINGTON, D.C., March 7, 2011 – The Alliance for a Stronger FDA today released a white paper on the far-reaching and positive economic impact of a strong FDA and the industries it oversees. The report is intended to provide interested parties, including Congress and Executive Branch policymakers, with information on FDA’s role in economic growth.
“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.”
She added: “FDA is a regulatory agency that can help the economy expand. It 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.”
The Alliance for a Stronger FDA white paper, entitled “The U.S. Food and Drug Administration: A Cornerstone of America’s Economic Future” provides useful information about medical products, the American food supply, and FDA’s role in fighting bio- and agro-terrorism. It also describes some of the advantages of maintaining U.S. leadership role in the global economy and the potential costs to the domestic economy and U.S. exports if FDA falls behind.
“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–comprised of consumer, patient, professional and research groups, companies, trade associations, and individuals–represent millions of Americans who support increased appropriated funding for FDA. More information about the Alliance can be found at www.StrengthenFDA.org.
The full report – The U.S. Food and Drug Administration: A Cornerstone of America’s Economic Future — can be downloaded from the Alliance’s web site.
What Others are Saying About
the Impact of FDA on the American Economy
AdvaMed (Advanced Medical Technology Association)
“Everyday, America’s medical technology companies are developing life-saving, life-enhancing advancements in patient care. This progress doesn’t occur in a vacuum. It’s critical to patients, continued innovation and future economic growth that our regulatory processes support the next great leap forward in medical progress. That’s why we support a well-resourced FDA with well-trained reviewers who have appropriate scientific expertise.”
Stephen J. Ubl, President and CEO
Alliance for Aging Research
“Over the next 30 years, there will be no greater challenge to the U.S. than dealing with the human and economic consequences of the graying of America. To improve lives and bend the cost curve of billions of health care dollars, we will need investment and innovation from the medical products industries. An effective working partnership with the FDA is essential.”
Dan Perry, President & CEO
“AstraZeneca favors a well-funded and scientifically world-class FDA that has the resources it needs to bring safe, effective and innovative medicines to patients in the United States. Developing and making new medicines available not only helps improve peoples’ health, it helps grow the American economy.”
Rich Fante, President, U.S. & CEO North America
Center for Science in the Public Interest
“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. It is a major part of FDA’s mission. Both the food industry and consumers benefit from a strong FDA and a growing economy.”
Caroline Smith DeWaal, Director of Food Safety
FasterCures/The Center for Accelerating Medical Solutions
“No agency with a critical role like FDA’s should be asked to do more, with less. 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.”
Margaret Anderson, Executive Director