Captain Caveman wrote on Nov 15
th, 2022 at 5:11am:
But, but, but. Corruption in the medical industry doesn't exist Aqua.
Trust me....
ndustry money saturates the globe’s leading regulators, raising questions about the influence funding has on regulatory decisions
Expert says regulators need their own independent watchdog
Patients and doctors expect drug regulators to provide an unbiased, rigorous assessment of new medicines before they hit the market. But an investigation published by The BMJ today finds that industry money permeates the globe’s leading regulators, raising questions about their independence, especially in the wake of a string of drug and device scandals.
Over the past decades, regulatory agencies have seen large proportions of their budgets funded by the industry they are sworn to regulate, explains investigative journalist Maryanne Demasi.
Industry fees to the US Food and Drug Administration (FDA) have increased 30 fold – from around $29m in 1993 to $884m in 2016, while in Europe, industry fees now fund 89% of the European Medicines Agency (EMA), up from 20% in 1995.
In 2005, the UK House of Commons’ health committee evaluated the influence of the drug industry on health policy. But nearly two decades on, little has changed, and industry funding of drug regulators has become the international norm.
The BMJ asked six leading regulators, in Australia, Canada, Europe, Japan, the UK, and US, a series of questions about their funding, transparency in their decision making (and of data), and the rate at which new drugs are approved.
Australia had the highest proportion of budget from industry fees (96%) and in 2020-2021 approved more than nine of every 10 drug company applications.
Australia’s Therapeutic Goods Administration (TGA) firmly denies that its almost exclusive reliance on pharmaceutical industry funding is a conflict of interest (COI). But in Australia, experts have called for a complete overhaul of the TGA’s structure and function, arguing that the agency has become too close to industry.
Sociologist Donald W Light of Rowan University in New Jersey, US, who has spent decades studying drug regulation, says, “Like the FDA, the TGA was founded to be an independent institute. However, being largely funded by fees from the companies whose products it is charged to evaluate is a fundamental conflict of interest and a prime example of institutional corruption.”