By Sam Baker - 06/19/12 04:31 PM EDT
Congress has until Oct. 1 to reauthorize user fees that the FDA collects from drug and medical device companies, and the user fee bill also includes a series of changes to agency policy.
Lawmakers have worked consistently to wrap up the FDA bill well ahead of the fall deadline, in part to insulate the bill from the political fallout surrounding the Supreme Court's ruling on the Obama administration's healthcare law. That decision may come by the end of next week.
The pharmaceutical industry also praised the agreement. The Pharmaceutical Research and Manufacturers of America (PhRMA) said the bill would "directly benefit patients and support continued biopharmaceutical innovation" in the United States.
The bill will reduce the deficit by $311 billion over the next 10 years, the Congressional Budget Office said.
— This post was updated at 4:39 p.m. to add the CBO score.