We have officially elected the 45th president of the United States. What a relief right? I mean this election season has been tumultuous and seemingly without end. The next focus will be the effects this election will have on our future as a nation. The FDA, although under the executive branch, has much more autonomy than it may have long ago. This autonomy has meant that not too much drastic change has occurred in the FDA in regards to the switch in presidential administrations. Although, it may suit us well to look at what changes could be in store for the agency based on a Trump presidency – whether drastic or not.
Trump and the FDA
Every new administration picks the leaders it wants under it to serve their platform and agenda best. It seems that based on Trump’s politics, he will fight for industry-friendly leadership in the FDA. It is yet to be seen exactly how this plays out. Yet, after the Obama administration’s high focus on what some would call over-regulation, a Republican President, Congress and sway in public opinion may cause a complete 180. This will be a good thing for most industries regulated by the FDA and could boost business ten-fold. The question is whether the loosening of regulations could cause the regulatory landscape to fall too quickly out of balance.
Changes in the Medical Device Industry
Typically, republican presidencies tend to be pro-business and this may be good news for the medical device industry. The medical device tax and medical device user fee could be subjects of debate under a Trump presidency. Loosening the reins could mean major pros to the medical device industry, making it easier to put products out and helping innovation.
These predicted changes are yet to be seen, but it is certain that this will cause a major shift. After eight years of a completely different ideology in the White House, the question is whether industry is ready for it.