Investor's Business Daily discusses regulatory delays in the FDA drug approval process with Sam Kazman.
It is true that few drugs are "safe," in the sense that they have zero side effects or can't be harmful if taken at the wrong doses. So the argument is that the government must weigh the drug's risks against its benefits before people can buy it.
But there's also the large, and largely hidden, cost of needless regulatory delays.
For example, the FDA's yearslong delay in approving beta-blockers (after they'd been approved in Europe) cost as many as 100,000 lives, according to Sam Kazman of the Competitive Enterprise Institute.
Read the full article at Investor's Business Daily.