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Reasonable Rx: Solving the Drug Price Crisis

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Reasonable Rx: Solving the Drug Price Crisis

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Examines the causes-and presents a solution-to the crisis caused by rising drug prices.

  • Finklestein is Co-Director of the Program on the Pharmaceutical Industry and Temin is a widely-published and well respected economist at MIT
  • Presents a real-world solution to the crisis that builds on the best aspects of today's pharmaceutical industry but fixes what's broken in our system
  • Presents a way to balance the competing interests (and risks) of money, science, and health
  • Description

    • Copyright 2008
    • Edition: 1st
    • Book
    • ISBN-10: 0-13-234449-1
    • ISBN-13: 978-0-13-234449-4

    A Real Plan for Making Drugs Affordable–and Promoting Innovation, Too

     “This book is a necessity for understanding the pharmaceutical industry. Both the pluses and minuses of the present system are set forth with a judicious combination of historical narrative, economic analysis, and statistical data. The highly original proposals for reform will be a major stimulant to analysis and policy-making.”

    –Kenneth Arrow, Nobel Laureate in Economics, Professor Emeritus, Stanford University

    “This is a timely book by authors who know what they are talking about. They tackle a big problem: rising drug prices that are threatening to overwhelm us all–and especially those with limited or absent health care insurance. Will we drive people overseas for healthcare? Will there be social unrest? This book describes the problem and then offers a solution. Worth a careful read by everyone, pharmaceutical manufacturers and government policymakers especially.”

    –Roger Williams, M.D., Chief Executive Officer of the United States Pharmacopeia and a former

    senior official of the Food and Drug Administration

    “This book confounds two sets of skeptics: Those who say there’s no way to resolve the conflict between the need to fund pharmaceutical research and our desire to keep medicine affordable; and those who think that economics never has anything good to say.”

    –Honorable Barney Frank, Congressman from Massachusetts

    “This book comes at the right time and could become the starting point of discussions, which will eventually lead us into new era in the healthcare care industry. It will without a doubt become a must for insiders of the pharma- and biotech industries.”

    –Dr. Jürgen Drews, retired President of Roche Pharmaceutical Group Global Research

    Acknowledgments viii

    About the Authors ix

    Introduction xi

    Chapter 1: Drugs and Drug Prices 1

    Chapter 2: The American Way to Discover Drugs 21

    Chapter 3: The Drug Industry Today 39

    Chapter 4: Are Drug Companies Risky? 59

    Chapter 5: How Not to Lower Drug Prices 77

    Chapter 6: Squandering R & D Resources 103

    Chapter 7: How to Lower Drug Prices 129

    Appendix: Our Solution in Detail 155


    Index 177

    Sample Content

    Table of Contents

    Acknowledgments viii

    About the Authors ix

    Introduction xi

    Chapter 1: Drugs and Drug Prices 1

    Chapter 2: The American Way to Discover Drugs 21

    Chapter 3: The Drug Industry Today 39

    Chapter 4: Are Drug Companies Risky? 59

    Chapter 5: How Not to Lower Drug Prices 77

    Chapter 6: Squandering R & D Resources 103

    Chapter 7: How to Lower Drug Prices 129

    Appendix: Our Solution in Detail 155


    Index 177

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