The Whining From Drug Companies: The FDA Is Hard On Us

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By Douglas A. McIntyre Published
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The profit-mongering Big Pharma companies don’t want the FDA to take so long approving their drugs. It cuts into profits and delays their chances of making money on new blockbuster treatments.

According to The Wall Street Journal, the head of Schering-Plough, almost certainly representing the sentiments of his industry expressed profound concern that "an intensifying focus on safety and a diminished tolerance for side effects at the Food and Drug Administration have dramatically lowered the odds that the drugs would make it to market — at least not without a lot of extra time and money."

If many new pharmaceuticals did not cause people to grow extra legs or go batty, the drug companies would have an argument. But, it was only recently that Avandia, a diabetes treatment, was found to increase or cause heart failure in some patients. With a few weeks, the agency warned that the Ortho Evra Birth Control Patch could cause blood clots. These kind of alerts seems to come out of the FDA at least once a month.

Drug companies have to deal with the FDA because their products are "under-researched" before they come to market. That is understandable. Drug companies are in the business of making money. It may be the screening their own products is sometimes secondary to that.

Over at the FDA, dead patients still trump making money.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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