FDA commish Hamburg looks to spur med-tech innovation (MassDevice)
Dr. Margaret Hamburg, the head of the FDA, put out a blueprint for spurring innovation in the life sciences today, saying there aren't enough new products in the med-tech pipeline to suit her.
"The number of new products in the development pipeline is not where we would want it to be and it's not commensurate with the medical and public health need," Hamburg said during a conference call this afternoon.
The blueprint, "Driving Biomedical Innovation: Initiatives for Improving Products for Patients," includes calls for the federal watchdog agency to improve "consistency and clarity in the medical device review process," rebuild its outreach offering for small businesses and focus on developing personalized medicine, according to a press release."We know that investment in biomedical research and product development are at all-time highs – last year an estimated $100 billion from the public and private sector – but the return on investment, in terms of new products for people and to the companies, has not been what was expected," Hamburg said during the call. "Timelines are long, costs are high, rates of failure...
