Forbes February 26, 2023
Regulatory agencies such as the U.S. Food and Drug Administration (FDA) play an important role in supporting innovation by promoting safety. By establishing standards for the safety and efficacy of drugs, medical devices, and other products, regulators help to ensure that these products are of high quality and that they meet the needs of patients and consumers. They do not simply accept assertions from sponsors, but require rigorously designed studies to collect objective and impartial results. This helps to build trust in these products and in the companies that produce them, encouraging further innovation and investment. Additionally, by requiring clinical trials and other forms of testing, regulators help to identify potential risks and side effects before technologies are made available...
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