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The Economic and Human Impact of New Drugs

Frank R. Lichtenberg, PhD

Published: November 1, 2003

Article Abstract

The benefits of new drugs to society exceed their cost by a substantial margin. These benefits includenet decrease in overall medical expenditures, reduced limitations on work and other activitiescontributing to quality of life, and increased longevity. Further, new drugs contribute to health andeconomic growth in the United States. Formularies, to the extent that they restrict drug choices,restrict access to new drugs.

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