The economic and human impact of new drugs.
The benefits of new drugs to society exceed their cost by a substantial margin. These benefits include net decrease in overall medical expenditures, reduced limitations on work and other activities contributing to quality of life, and increased longevity. Further, new drugs contribute to health and economic growth in the United States. Formularies, to the extent that they restrict drug choices, restrict access to new drugs.
Lichtenberg
Frank R
FR
Graduate School of Business, Columbia University, New York, NY 10027, USA. frank.lichtenberg@columiba.edu
D004345:Drug Industry / Q000191:economics; D004358:Drug Therapy / Q000191:economics / Q000639:trends*; D004363:Drug Utilization / Q000191:economics*; D005569:Formularies as Topic; D005102:Health Expenditures; D006297:Health Services Accessibility; D006304:Health Status; D006801:Humans; D008136:Longevity; D011788:Quality of Life; D014481:United States