Riposte: FDA response to 'Yin, yang and the biopharmaceutical industry'

Abstract

In his editorial entitled 'Yin, yang, and the biopharmaceutical industry', Henry Miller attributes the three-year decline in biotechnology stocks to two factors: competition among biotechnology firms for a relatively small number of products, and Food and Drug Administration (FDA) regulatory actions. While we too are very concerned about the recent decline, we take issue with both the assertion that the FDA has played a large role in this decline and with the claims made to substantiate this assertion.