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Technological advances touch every aspect of our lives, often in ways we rarely think about. Today, we live longer, healthier, and better lives because of our access to innovative products that were unimaginable in the recent past.

That’s why it’s critical for regulators to make timely and common-sense decisions. Yet excessive risk-aversion is endemic at federal agencies. The Food and Drug Administration (FDA) is one of the worst offenders. [...]