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The Benefits and Savings of Publicly-Funded Clinical Trials of Prescription Drugs

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  • Dean Baker

Abstract

This 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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File URL: http://www.cepr.net/documents/publications/clinicaltrials_2008_03.pdf
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Bibliographic Info

Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2008-09.

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Length: 19 pages
Date of creation: Mar 2008
Date of revision:
Handle: RePEc:epo:papers:2008-09

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Related research

Keywords: presciption drugs; drug testing; drug trials;

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References

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  1. 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.
  2. 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.
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Cited by:
  1. 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.
  2. Paul Grootendorst, 2009. "How should we support pharmaceutical innovation?," Social and Economic Dimensions of an Aging Population Research Papers 246, McMaster University.

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