Legislators this week endorsed revamped regulations that would streamline clinical trials of new medicines, making such trials both cheaper and faster while still ensuring patient safety.

European Parliament’s Environment, Public Health and Food Safety Committee unanimously approved the proposal, which backers say provides simpler reporting procedures and would encourage research. The law would replace the Clinical Trials Directive adopted in 2001, which was roundly criticized by researchers for inflating costs and red tape with little benefit to patients.