Originally Published MX September/October 2003

COVER STORY

In a variety of his public speeches, Commissioner McClellan has manifested an economist's understanding of the many factors that can stimulate—or kill—investment into the development of new medical technologies.

Discussing the need for medical countermeasures against terrorist attacks, for instance, McClellan told the annual FDLI meeting that "research and development into new countermeasures has been slow, largely because there is no financial incentive. Many companies I have talked to know that the development of medical products is an uncertain process, and they are used to taking risks knowing they might fail. But they want to know that if they succeed, there's the certainty of a reasonable financial reward. When it comes to countermeasures, there are plenty of risks, and few clear rewards."