TEL AVIV (Reuters) – U.S. President Donald Trump’s administration needs to speed up generic drug approvals and exempt some drugs from funding freezes, the CEO of Israel’s Teva Pharmaceutical Industries said on Monday.
“In the FDA (Food and Drug Administration), there is no speed. I would like them to do things on a regular time because the more generics we bring, the more savings we bring to the United States healthcare system. So just approve them,” Richard Francis told Reuters on the sidelines of a news conference.
“Many of these products are approved in Europe.”
He also said some drugs, such as Huntington’s treatment Austedo, should be exempt from funding restrictions.
As part of his flurry of executive orders following his return to power in January, Trump ordered government agencies to pause funds under his predecessor’s signature climate and infrastructure law the Inflation Reduction Act (IRA).
“I don’t think having Teva part of that and having Austedo, a rare disease part of that is necessarily the intent of the IRA,” he said.
(Reporting by Steven Scheer; editing by Barbara Lewis)
