May 22, 2024- The U.S. Food and Drug Administration (FDA) announced in early March that it is requesting $7.2 billion as part of the President’s fiscal year (FY) 2025 proposed budget. Approximately $12.3 million of the funding will go directly toward addressing supply-chain disruptions, supporting supply chain resiliency, and advancing medical product safety, according to the FDA.
Supply chain disruptions are currently a far-reaching issue experienced throughout the medical distribution industry. According to ECRI, delays in patient care resulting from supply and equipment shortages are included in the Top 10 Patient Safety Concerns for 2024.
To address supply chain disruptions, the FDA will allot funding to advance its capabilities to better prepare for, build resilience to, and respond to supply delays and shortages. This will be done through improved analytics and regulatory approaches, the FDA said.
With the funding, the FDA also plans to hire additional investigators to carry out inspectional needs associated with supply chain disruptions and medical product shortages. The agency also plans to respond by continuing to promote manufacturing quality across the medical product and pharmaceutical industry.
Learn More in the latest issue of Repertoire Magazine.