The FDA Is Tackling Digital Health With the Help of Apple and Google
The U.S. Food and Drug Administration (FDA), which is responsible for drug approvals, medical devices, and the food supply in the U.S., has announced a pilot project aimed at updating the process for approving software-based medical apps and devices. The agency plans to develop a framework that would bypass the traditional process used for drugs and more complex medical equipment.
The regulator revealed it has chosen nine companies that would participate in the initiative from more than 100 that applied. This includes heavy hitters in health Johnson & Johnson and Roche Holding AG. The list also includes well-known tech titans Apple Inc. (NASDAQ: AAPL), Samsung, and Verily Life Sciences, a division of Google parent Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG). Rounding out the top six is fitness-tracking pioneer Fitbit. The remaining three are start-ups Pear Therapeutics, Phosphorus, and Tidepool.
The FDA is collaborating with private industry to advance digital health. Image source: Getty Images.
Source: Fool.com
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