Did You Know That Pharma Has An Image Problem and FDA Raised Its Regulatory Filing Fees?
It is amazing the things you learn if you pay attention from time to time. While attending a meeting on e-healthcare last week in Philadelphia I learned that according to the American public the pharmaceutical industry is less popular than the banking industry. This was startling to me given that the recent financial collapse was caused almost entirely by the banking industry. That the pharmaceutical industry is more reviled than the banking industry suggests that life sciences company have a bit of PR work to do. But, not to worry, people still hate the oil industry more than the pharmaceutical industry.
On another note, the US FDA decided to raise the cost of regulatory filings for fiscal year 2010. The cost of filing an application with clinical data is $1.4 million (up from $ 1.2 million in FY 2009); $702, 750 for an application not requiring clinical data or a supplement requiring clinical data (up from $623,600 in 2009) and 457,200 as compared with $425,000 in FY 2009 for an establishment fee (for facilities where drugs are made).*
I guess the agency figures that pharma can handle the increases despite poor public image and an ongoing recession.
* AAPS News Magazine, Oct-Nov '09
Until next time...
Good Luck and Good Job Hunting
