Impact of the US BioShield Act on the Pharmaceutical Business
The BioShield Act of 2004 significantly influenced the pharmaceutical industry, particularly in the development and production of medical countermeasures (MCMs) against biological threats. Here's a breakdown of its primary impacts: Increased Funding and Investment * Government Funding: The Act provided substantial funding to the U.S. government for the development and acquisition of MCMs. * Industry Investment: This increased government funding incentivized pharmaceutical companies to invest more in R&D for MCMs, which might have been considered riskier before the Act. Accelerated Development and Approval * Expedited Processes: The Act introduced expedited development and approval processes for MCMs, reducing the time it took to bring products to market. * Faster Response: This was especially crucial during public health emergencies, as it allowed for a quicker response to biological threats. Public-Private Partnerships * Collaboration: The Act encouraged collaboration bet