Bloomberg Law
May 24, 2023, 3:06 PMUpdated: May 24, 2023, 8:50 PM

US Debt Default Would Stop Drug, Device Reviews, FDA Chief Says (1)

Jeannie Baumann
Jeannie Baumann

FDA approvals of new drugs and devices will come to a halt if the debt ceiling negotiations fail and the US defaults on its debt, the head of the agency said Wednesday.

“We’ve got to figure out the debt ceiling,” Robert M. Califf, the commissioner of the Food and Drug Administration said. “If the government shuts down, I won’t be able to pay people to review the applications that are in play.”

Debt limit talks remain at an impasse over spending cuts, particularly those demanded by Republicans. Treasury Secretary Janet Yellen has said the government could run out of money ...

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