A phrase in the new section on healthcare on President-Elect Donald Trump's transition webpage has given some in biotech cause to cheer, FierceBiotech reports.
At the site, Trump calls for reforms at the Food and Drug Administration "to put greater focus on the need of patients for new and innovative medical products." This, along with the promise to promote healthcare research and development, has been viewed as a "boon for biotech," FierceBiotech says, as deregulation of FDA would make the approval process move more swiftly.
It notes, though, that the shape that any FDA reform might take is unclear.
At the same time, FierceBiotech adds that Republican Senate Majority Leader Mitch McConnell has said that the 21st Century Cures Act, which would provide a $10 billion boost over five years to biomedical research funding, is to become a legislative priority for Congress. The bill passed the House of Representatives in July.
McConnell tells FierceBiotech that Trump is "interested in precision medicine on that; that incoming VP [Mike Pence] is interested in the Cancer Moonshot [from outgoing VP Joe Biden] part of it; and I'm interested in the regenerative medicine part. I want to see us finish that important new measure this year."
However, FierceBiotech adds that Trump has challenged the role of the National Institutes of Health and what might become of the funding the bill provides for the agency is unknown.