As someone who works in the pharma/med device industry dealing with regulations - less regulations is not necessary. We need the FDA to actually be able to enforce their regulations. They seem to have a lack of resources to adequately complete inspections and submission reviews.
You're not kidding...they seem to be hitting PDUFA dates, but not much else. FDA being understaffed is creating delays...it's not the burden of the regulations themselves.
I'll answer cramx's question in this thread, since it's a little more relevant. My understanding is that Trump wants to lower (and roll back) the regulatory hurdles for getting a drug approved, so that the requirements for demonstrating efficacy are greatly reduced (safety requirements would be unchanged in my understanding). So, the process would go faster, and more drugs would get to market. More competition means lower process: BUT:
-This means that drugs that may not be effective will make it to market. However, insurance companies will only want to pay for drugs that work, so companies will still need to run those same studies if they want to get reimbursed for the drug.
-The point above also means that the drugs that are actually demonstrated to work and be worth buying will continue to command a premium in the marketplace
-Most of the mid-and big pharma are global now...and the requirements in Canada, EU, Japan and Latin America won't be loosening. Companies with global ambitions will run global studies to meet global requirements, so time to approval will still be the same, unless a company wants to run shorter US-only studies, which I don't expect would be cost effective.
-The longest part of the late-stage clinical work is the long-term safety study (needed for anything something that is just a single short course of treatment, like an antibiotic), and these require patient exposure to the drug for 52 weeks. So unless some company can bend time, this isn't improving.
In short, he's talking out his ass. Seems mostly like a move to help out investors in smaller biotechs who buy at the IPO, and sell shortly after approval, before people realize that the drug won't sell because it may as well be a placebo.