0160416582
Pharmaceutical costs are among the fastest growing components of health care costs today. Although increases in the inflation-adjusted prices of ethical drugs and perceived high prices of new drugs have been a concern of congressional committees for over 30 years, the growing Federal role in paying for prescription drugs has increased the concern over the appropriateness of prices relative to the costs of bringing new drugs to market. Specific policies of U.S. and other governments can alter the delicate balance between costs and returns to pharmaceutical R&D. with ramifications for the future health of Americans, for health care costs, and for the future of the U.S. pharmaceutical industry.OTA’s report focuses mainly on the economic side of the R&D process. Pharmaceutical R&D is an investment, and the principal characteristic of an investment is that money is spent today in the hopes of generating even more money in the future. Pharmaceutical R&D is a risky investment: therefore, high financial returns are necessary to induce companies to invest in researching new chemical entities. Changes in Federal policy that affect the cost, uncertainty and returns of pharmaceutical R&D may have dramatic effects on the investment patterns of the industry. Given this sensitivity to policy changes, careful consideration of the effects on R&D is needed. |
Table of contents :
Front Matter……Page 1
Table of Contents……Page 6
1:Summary……Page 10
2:Research and Development Expenditures……Page 47
3:The Cost of Pharmaceutical R&D……Page 55
4:Returns on Pharceutical R&D……Page 81
5:Trends in Science, Technology and Drug Discovery……Page 113
6:Government Regulations and………Page 143
7:Product Liability and………Page 177
8:Federal Tax Policy and ………Page 191
9:Federal Support for………Page 208
10:Trends in Payment for ………Page 243
A:Method of Study……Page 270
B:Acknowledgements……Page 274
C:The Cost of Capital……Page 281
D:Congressional Access to………Page 289
E:Patent Protection of ………Page 295
F:Summary of Methods Used to Analyze Trends………Page 299
G:Estimating the Cost of Producing and Selling New Chemical Entities……Page 307
H:Methods of OTA’s Survey………Page 313
I:Methods Used in OTA’s Study of Success Rate for ………Page 314
J:Estimates by OTA and JCT of ………Page 315
K:federal Programs Dedicated to ………Page 316
L:Acronyms and Glossary of Terms……Page 321
References……Page 328
Index……Page 352 |
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