The entire world somewhat looks to the US FDA approval process...which is one of the best accredited, but again due to lack of technology, it's catch up time...companies are waiting in the ranks to release products that are stated to be hung up in the process...and how long will the biotech companies wait...smaller biotechs can't afford the wait...but the push from the larger entities should be forthcoming...BD
TORONTO (Reuters) - Canadian biotechnology companies have joined a chorus of their global counterparts to rail against the U.S. Food and Drug Administration's tardiness in approving new drugs.
Products by companies such as Labopharm Inc (DDS.TO: Quote, Profile, Research) and Cardiome Pharma Corp (COM.TO: Quote, Profile, Research) have been delayed in the key U.S. market for months, chipping into their revenue and waylaying their plans.
"It could come to a very big head. You will see tremendous influence brought to bear on the governing bodies and the politicians overseeing how the FDA gets funded," Bapty said.
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