That Perennial Western Malady, the Revolt of the Individual Against the Species

Atom Feed

Creative Commons License

Contact:
Blogger Profile
LiveJournal
Email
AIM

Get Firefox!
This site appears best in the FireFox web browser. Faster, Safer, and Free.

The Electronic Frontier Foundation

Institute for Justice

I Proudly Fly the Gadsden Flag

Bill of Rights Enforcement Defend the Bill of Rights





eXTReMe Tracker

Sunday, February 13, 2005

Over-Regulation and Drug Prices

Does the FDA cause the prescription drug crisis? Its regulations force companies to spend decades testing life-saving drugs before they can be brought to market and make many drugs for treating relatively rare diseases economically impossible. Two new studies examine the financial costs.

A study by Joseph DiMasi, Ronald Hansen, and Henry Grabowski and published in the Journal of Health Economics in 2003 found that the average total cost to pharmaceutical companies of developing a new drug is $802 million. Responding to criticisms that these results were doctored or fake, two economists at the Federal Trade Commission attempted to replicate the study using a different data set. They concluded that the actual number is substantially higher, somewhere between $839 and $868 million. They also point out that certain drugs, for instance, drugs for treating AIDS, are developed at nearly half of the cost of developing the average drug and suggest that this difference is due to differences in regulatory policy.

Discussions of these studies here and here at Marginal Revolution.

6 Comments:

At 1:47 PM, Anonymous Anonymous said...

Great site, I am bookmarking it!Keep it up!
With the best regards!
David

 
At 3:26 PM, Anonymous Anonymous said...

Hello!I enjoyed looking around Your website, colors,
layouts are great, keep up a good work!With the best regards!
Jimmy

 
At 12:39 PM, Anonymous Anonymous said...

Hello, thanks a lot, You'v done a great job.I can only realize how much time and resources does it take to create such a resource!Great work, I am impressed!

 
At 7:05 PM, Anonymous Anonymous said...

Hello!I enjoyed looking around Your website, colors,
layouts are great, keep up a good work!With the best regards!
Frank

 
At 5:08 PM, Anonymous Anonymous said...

Great design, useful info!This resourse is great!Keep it up!With the best regards!
James
Lipitor vs lovastatin

 
At 12:49 AM, Anonymous Anonymous said...

Great site, I am bookmarking it!Keep it up!
With the best regards!
James
Lipitor vs lovastatin

 

Post a Comment

<< Home