The Benefits and Savings of Publicly-Funded Clinical Trials of Prescription Drugs
AbstractThis paper proposes publicly funding prescription drug trials as an alternative to the present system wherein pharmaceutical companies often finance and conduct tests of their drugs themselves. The report posits that in addition to substantial savings for the government, independent companies working under long-term federal contracts would result in full and accurate disclosure of the results of drug testing.
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Bibliographic InfoPaper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2008-09.
Length: 19 pages
Date of creation: Mar 2008
Date of revision:
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More information through EDIRC
presciption drugs; drug testing; drug trials;
Find related papers by JEL classification:
- I - Health, Education, and Welfare
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
- I12 - Health, Education, and Welfare - - Health - - - Health Production
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-11-11 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- DiMasi, Joseph A. & Hansen, Ronald W. & Grabowski, Henry G., 2003. "The price of innovation: new estimates of drug development costs," Journal of Health Economics, Elsevier, vol. 22(2), pages 151-185, March.
- Lewis Tracy R. & Reichman Jerome H. & So Anthony D., 2007. "The Case for Public Funding and Public Oversight of Clinical Trials," The Economists' Voice, De Gruyter, vol. 4(1), pages 1-4, January.
- Paul Grootendorst, 2009. "How should we support pharmaceutical innovation?," Social and Economic Dimensions of an Aging Population Research Papers 246, McMaster University.
- Paul Grootendorst, 2009. "Patents, Public-Private Partnerships or Prizes – How should we support pharmaceutical innovation?," Social and Economic Dimensions of an Aging Population Research Papers 250, McMaster University.
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