This study investigates the returns to R&D for 100 new drugs introduced into the United States during the decade of the 1970s. In contrast to prior studies, it incorporates several significant structural changes that have occurred in the pharmaceutical industry during the 1980s. These include...

IN 1984, Congress enacted a new law that greatly affected the economicsof the pharmaceutical industry in the United States. It has been characterizedas the most important legislation affecting competition in the pharmaceuticalindustry since the 1962 Kefauver-Harris Amendments to theFood and Drug...

The pharmaceutical industry has been among the most innovative while being one of the most highly regulated industries in the United States. Government regulation of pharmaceutical product quality started in 19061 and has evolved into a stringent system of premarket controls over new drug...