I have no idea what your point is. There are existing regulations for new food products, and GMO foods. I'm Canadian, so I'll point to our regulations first:
It is a seven to ten year process to research, develop, test and assess the safety of a new GM food. Manufacturers and importers who wish to sell or advertise a GM food in Canada, must submit data to Health Canada for a pre-market safety assessment, as required under Division 28 of Part B of the Food and Drugs Regulations (Novel Foods). This safety assessment provides assurance that the food is safe when prepared or consumed according to its intended use.
http://www.hc-sc.gc.ca/sr-sr/pubs/biotech/reg_gen_mod-eng.php
It's true that the food developer is responsible for demonstrating the safety of their products in the US, but you could argue that it is their burden to deal with the costs and to demonstrate safety.
The developer produces a safety assessment, which includes the identification of distinguishing attributes of new genetic traits, whether any new material in food made from the GE plant could be toxic or allergenic when eaten, and a comparison of the levels of nutrients in the GE plant to traditionally bred plants.
I don't buy the argument that independent studies hold no value with the FDA. This is from their website: FDA scientists evaluate the safety assessment and also review relevant data and information that are publicly available in published scientific literature and the agency's own records
it is incorrect to state that there is no formalized regulations for GMO foods (or any food products). The FDA states that there are multiple government agencies already involved in food safety:
FDA regulate s food from GE crops in conjunction with the U.S. Department of Agriculture (USDA) and the Environmental Protection Agency (EPA). USDA's Animal and Plant Health Inspection Service is responsible for protecting agriculture from pests and disease, including making sure that all new GE plant varieties pose no pest risk to other plants. EPA regulates pesticides, including those bioengineered into food crops, to make sure that pesticides are safe for human and animal consumption and do not pose unreasonable risks of harm to human health or the environment.
I don't understand why we need to start evaluating foods as we do drugs or medical devices. There is already an existing food safety infrastructure. I also don't think it's fair to treat food products as we do medical treatments. Sure there is some overlap, but these aren't the same things.