Each week we highlight five things affecting the life sciences industry. Here’s the latest.
FDA leadership change triggers biotech market shift
- The U.S. Food and Drug Administration appointed Dr. Vinay Prasad, known for his criticism of accelerated drug approvals and COVID-19 mandates, as the new head of its Center for Biologics Evaluation and Research.
- Following the announcement, biotech stocks experienced a notable drop, with analysts expressing concerns over potential shifts in regulatory approaches; reports BioSpace.
Medtech groups advocate for tariff relief amid trade tensions
- AdvaMed and the U.K.’s Association of British HealthTech Industries are urging the U.S. and U.K. governments to adopt a “zero-for-zero” tariff policy on medical products to prevent supply chain disruptions.
- The organizations emphasize that tariffs could increase costs for health care systems and patients as governments are the primary payers for medical technologies, according to MPO.
Boost in U.S. drug manufacturing ordered amid tariff plans
- President Trump signed an executive order directing the FDA to streamline domestic pharmaceutical plant approvals and increase oversight of foreign manufacturers to reduce reliance on imports.
- The administration plans to announce pharmaceutical tariffs within two weeks, prompting major drugmakers to invest billions in U.S. facilities, reports Reuters.
European support grows for health care data sharing
- A recent survey reveals that 73% of Europeans are willing to share their health care data in exchange for personalized treatment plans.
- The study also found that 76% of respondents are enthusiastic about technology enhancing medical training, and 65% are excited about the integration of artificial intelligence in health care, according to Yahoo Finance.
Bipartisan patent reform sparks pharma tech divide
- A bipartisan group in Congress has introduced the Patent Eligibility Restoration Act to clarify which innovations, such as those in biotechnology and AI, are eligible for patent protection.
- While pharmaceutical and biotech sectors support the bill for providing clearer patent guidelines, the tech industry opposes it, arguing it could lead to an increase in weak patents and litigation, according to Politico.
For more insights in life sciences, check out RSM’s industry outlook.
