Genotechnology (genotech) is the subset of biotechnology (biotech) dealing with human genetics. Even as a subset, however, genotechnology has a significant effect within the U.S. economy. This impact is partly attributable to the federal government’s efforts to nurture the industry. Although these efforts have contributed to the American genotech industry’s rapid growth, the federal government has not kept pace in the legal and regulatory areas necessary to ensure that genotech drugs are marketed responsibly. In fact, current federal policy has been characterized as “grossly short-sighted.”
The Food and Drug Administration (FDA) presently has approved more than thirty genotech drugs for general use. Over 450 more products are currently under development, with at least 120 of those in final testing awaiting FDA approval. Cancer treatment products comprise the largest segment with 114 drugs either under development, pending approval, or finally approved for sale.
As sales figures indicate, genotech drugs have already firmly entrenched themselves in the marketplace.
