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Friday, January 18, 2013
Company Must Stop Hiring To Afford New FDA Fees New Food and Drug Administration fees are concerning the pharmaceutical industry as the FDA requires Generic Drug User Fees of 175-thousand dollars on all domestic generic drug manufacturing companies. They are now required to pay the current fees by March 4th or face a facility shut down or a possible miss branding of certain products. The new healthcare law will affect Crown Laboratories in Johnson City who are in that category and have already instituted a hiring freeze to offset the additional cost. Companies have started having to prepare for changes that could come with only a 60 day notice and have already started to put back money for 2014. The fee’s could also increase with inflation and other factors so preparing a budget beyond twelve months is very difficult as the fee amounts are at the discretion of the FDA who could raise them at any time. (bg)
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