XHS - FDA requests 8% increase in $6.5B FY 2022 budget request

The FDA's FY 2021 budget request of $6.5B is an 8% increase from what it received in the current FY.The agency says its request includes $2.9B in user fees from companies, a 6% increase from FY 2021.Addressing medical device shortages, the budget requests $21.6M for the new Resilient Supply Chain and Shortages Program to reduce dependence on devices manufactured in other countries.$5.6M is earmarked for drug safety surveillance and oversight.In addition, the request includes a legislative proposal that would expand drug supplies and prevent shortages by having a drug sponsor conduct studies to determine the longest possible expiration date.Healthcare ETFs today: Health Care Select Sector SPDR ETF (XLV) +0.4%; SPDR Biotech ETF (XBI) -0.4%; iShares U.S. Medical Devices ETF (IHI) +0.6%; and SPDR Health Care Services S&P ETF (XHS) down 3 cents.

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FDA requests 8% increase in $6.5B FY 2022 budget request