GAO Slams FDA, regulators

The AP reports, "The US regulatory structure policing the financial sector is outdated, federal oversight of medical products is inadequate and the government's tracking system for toxic chemicals is in danger of becoming obsolete, the investigative arm of Congress said Thursday." The Government Accountability Office said in its report for the new Congress that "shortcomings in regulation topped a list of 30 programs needing broad-based transformation or at high risk for waste, fraud, abuse and mismanagement." Among the issues to be addressed, "the report said that...the Food and Drug Administration must improve its inspection program of foreign drug and medical device manufacturers."

The Washington Post says, "The GAO document also questioned the ability of the Food and Drug Administration to ensure the safety of drugs and medical devices." The report said, "The agency is facing significant challenges that compromise its ability to protect Americans from unsafe and ineffective products."

Get the report here.