Gary McGaghey Recap

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Gary McGaghey, the CFO of the U.S. Food and Drug Administration, was quoted in a recent article for eWeek about FDA’s efforts to prevent online fraud and monitor manufacturers’ practices to ensure their products are safe for consumption. McGaghey’s insights into how FDA can combat these issues can be found in this article recap by PwC US.

McGaghey said that most manufacturers operate within the law in a recent interview. Still, some choose to sell products made from non-genuine ingredients or produced in unsanitary conditions. When these problems are identified and brought to the FDA’s attention, McGaghey said, the agency moves quickly to ensure that all claims about product safety are accurate.

McGaghey also noted that FDA could detect counterfeit drugs quickly because of its presence across multiple channels and relationships with the industry, including manufacturers and distributors. In addition, FDA has effective systems in place for identifying fraudulent behavior that relies on a network of independent industry experts.

Gary McGaghey, Chief Financial Officer for FDA’s Center for Drug Evaluation and Research, led the agency’s effort to implement a new approach to control counterfeit drugs and improve product safety in the pharmaceutical industry. Before joining FDA, McGaghey was executive vice president and chief financial officer (CFO) of TAP Pharmaceuticals, Inc., a pharmaceutical company headquartered in Ladera Ranch, California. He has also served as senior vice president and CFO at Neurocrine Biosciences, a biopharmaceutical company based in San Diego, California; senior vice president of finance at Pharmacia Corporation (the predecessor company to Pfizer Inc.), and as corporate controller of Pharmacia’s Consumer Healthcare Division.

Before joining Pharmacia in 1987, McGaghey held various positions with Arthur Andersen LLP in Los Angeles and Cincinnati. McGaghey earned a B.S. degree from the University of Cincinnati and held a professional certification in public accounting. He is also a Certified Public Accountant (CPA) in California.

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