Posted 9/13/2019 8:33 AM (GMT 0)
I like the attitude that Japan is taking:
Considering the trends toward individual choice, the move toward deregulation won’t likely abate anytime soon. Yoshihide Esaki, a senior member of the Japanese economic development ministry who helped create the expedited system, says the government is looking to expand it to all medicines. “This time we focused on regenerative medicine, but this was only a first step to changing the medical field,” he said in an interview at an industry conference in 2015. “Our next target is changing the total system for clinical trials.”
Free market advocates are using Japan’s example to try to open up the American system even more. “The U.S. can continue to pass occasional legislation that does not encounter much political opposition and makes small incremental improvements. If so, we can get ready for worldwide leadership in biopharmaceutical research to begin shifting to Japan,” wrote Madden, the author of “Free to Choose Medicine,” and Nobel-winning economist Vernon Smith in a 2015 Forbes column.