A model for a cost-benefit analysis of a new pharmaceutical
There is growing clamour of late that the evaluation of new pharmaceuticals should not only contain analysis of safety and efficacy, but also elements of economic analysis. The reason: the quality of present-day background material is such that it does not permit thorough-going assessment of the impact that a new drug has on the economy. A splendid opportunity to subject a new pharmaceutical to an economic evaluation will arise when the pharmaceutical undergoes clinical trial; this will be especially true of phase-3 trials. The main problem posed by many economic analyses is precisely the lack of data that can be used for prospective purposes.
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