The most innovative new medical devices are being developed overseas because regulations in the U.S. are too strict, a panel of industry experts said Thursday at a Mountain View Chamber of Commerce “Life Sciences Summit” hosted at Fenwick & West LLP.
The panelists, including vascular surgeon and inventor Dr. Thomas Fogarty of Mountain View’s Fogarty Institute of Innovation, had some harsh words for the U.S. Food and Drug Administration, though they also said they’re starting to see a turnaround.
"The FDA has finally woken up and realized what is happening," Fogarty said.
Still, he said he continuously sees companies leave the U.S., and "they're not coming back."
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