FEATURED:

Regulators reach agreement on drug industry fees

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Under the recommendations for prescription drugs, the FDA said, "fees paid by industry would support continued timely review of critical prescription drugs, as well as advance the development of drugs for rare diseases, provide for enhanced communication with small or emerging companies, increase the use of standardized electronic data to improve quality and efficiency, and foster the use of new clinical endpoints that improve drug development times and help address unmet medical needs."

The new generic user fees would help clear the backlog of applications, as generics are on the rise. The biosimilars fee, meanwhile, comes as President Obama's healthcare reform law for the first time created a pathway for drugs that are almost identical to complex biologic drugs.

The FDA's announcement comes one day after House Republicans announced a schedule of hearings on user fees next month.

"These user fee agreements are crucial to ensuring that medications become available to the American public quickly and safely," the top lawmakers on the Senate HELP Committee — Sens. Tom HarkinThomas (Tom) Richard HarkinTrump should require federal contractors to follow the law Orrin Hatch, ‘a tough old bird,’ got a lot done in the Senate Democrats are all talk when it comes to DC statehood MORE (D-Iowa) and Mike EnziMichael (Mike) Bradley EnziThe 14 GOP senators who voted against Trump’s immigration framework Mulvaney remarks on Trump budget plan spark confusion Overnight Finance: Breaking down Trump's budget | White House finally releases infrastructure plan | Why it faces a tough road ahead | GOP, Dems feud over tax-cut aftermath | Markets rebound MORE (R-Wyo.) — said in a joint statement Friday. "We applaud the FDA and the industries for the dedication and hard work it took to finalize these agreements.

"Moving forward, we expect the FDA and the medical device industry to continue to work together to resolve any outstanding issues quickly so our Committee can move forward with the work to authorize all four user fee agreements in a timely manner. An agreement between FDA and the industry is critical to fostering greater innovation while ensuring that the review process for new medical devices is predictable, consistent, and transparent."