FDA (6,900 employees, $6.5B budget) regulates pharmaceuticals, biologics, medical devices, and food safety covering ~20% of US consumer spending. In July 2026, approved novel diabetes and cancer immunotherapies, expanded OTC naloxone access, and launched PreCheck pilot with Eli Lilly and Fujifilm to streamline domestic drug manufacturing while flagging safety concerns around unregulated peptide compounding.
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