FDA requests 8% increase in $6.5B FY 2022 budget request

May 28, 2021 4:31 PM ETHealth Care Select Sector SPDR (XLV), XBI, IHI, XHSXLV, XBI, IHI, XHSBy: Jonathan Block, SA News Editor6 Comments
  • The FDA's FY 2021 budget request of $6.5B is an 8% increase from what it received in the current FY.
  • The agency says its request includes $2.9B in user fees from companies, a 6% increase from FY 2021.
  • Addressing medical device shortages, the budget requests $21.6M for the new Resilient Supply Chain and Shortages Program to reduce dependence on devices manufactured in other countries.
  • $5.6M is earmarked for drug safety surveillance and oversight.
  • In addition, the request includes a legislative proposal that would expand drug supplies and prevent shortages by having a drug sponsor conduct studies to determine the longest possible expiration date.
  • Healthcare ETFs today: Health Care Select Sector SPDR ETF (NYSEARCA:XLV) +0.4%; SPDR Biotech ETF (NYSEARCA:XBI) -0.4%; iShares U.S. Medical Devices ETF (NYSEARCA:IHI) +0.6%; and SPDR Health Care Services S&P ETF (NYSEARCA:XHS) down 3 cents.

Recommended For You

Comments (6)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.