Medical innovation in the USA hampered by conflict-of-interest rules

While some level of regulation is necessary to protect the general health and welfare of the public, growing conflict-of-interest rules in medical industries are proving wrong the old adage “better safe than sorry.” A new report by Manhattan Institute visiting scholar Richard Epstein and published by the Manhattan Institute’s Project FDA, titled How Conflict-of-Interest Rules Endanger Medical Progress & Cures, details the impact of growing conflict-of-interest mandates on the development of potentially lifesaving drugs and technologies.

Government agencies and research institutions oversee the research, production, and marketing of new drugs and medical technologies. However, recent conflict-of-interest regulations go far beyond the prevention of real conflicts to chase ever more “potential” or “apparent” conflicts. Rare cases of corruption among scientists and drug companies are leading a public over-reaction that is generating broad conflict-of-interest rules to limit the collaboration of physicians, scientists, and universities with drug and medical technology companies.

In his report, Prof Epstein explores the unintended consequences of these conflict-of-interest regulations and offers pragmatic solutions.