Biden Administration Proposes Increased FDA Funding for FY 2025 to Enhance Innovation and Health Services
March 11, 2024
Just days after the FDA’s fiscal year 2024 appropriations package was passed, the Biden administration is seeking a significant increase in FDA funding for fiscal year 2025, totaling $7.2 billion. This request includes appropriations and user fees, marking a $495 million overall increase. The proposed budget addresses the FDA’s growing responsibilities, especially in the face of expanding innovation within the pharmaceutical industry. HHS Secretary Xavier Becerra emphasized the necessity of this funding increase to keep pace with innovation and reduce bureaucratic delays in bringing new health solutions to the market. Additionally, the administration proposes a legal change to allow FDA-approved biosimilars to be automatically switched for their reference products, aligning U.S. policies with the European Union’s and potentially fostering greater competition in the biosimilar market. The budget also highlights a focus on workforce expansion, pandemic preparedness, regulatory capacity enhancement, and improved supply chain oversight.
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[Source: Endpoints, March 11th, 2024]
