Prices, Markets, and the Pharmaceutical Revolution

  • Title:

    Prices, Markets, and the Pharmaceutical Revolution
  • Format:

    Paperback
  • Paperback Price:

    9.95
  • Paperback ISBN:

    0-8447-7147-3
  • Paperback Dimensions:

    8.25'' x 5.5''
  • 96 Paperback pages
  • Buy the Book

The full text of this book is also available as a PDF.

Although pharmaceutical costs have aroused controversy for decades, debate has intensified over the past year. Discussions have zeroed in on several themes, including the escalation of expenditures, particularly for the elderly, and the prices of some drugs. And now proposals to add a drug benefit to Medicare are being floated, with the specter of price controls on drugs on the horizon.

But, John E. Calfee contends, the impulse to address the price issue through political means is deeply misconceived and could thwart today's dramatic improvements in health. Using up-to-date data and sources, the author details today's "third revolution" in pharmaceuticals with a coherent explanation of the new marriage of biology with progress in clinical trials, managed care, the dynamic biotechnology industry, and even marketing and promotion. He navigates complex issues--the advances in pharmaceutical research and in the dissemination of information, the benefits to consumers, the dangers of price controls and disincentives to research--and urges Congress to exercise care in crafting changes to Medicare benefits while preserving the bright prospects for pharmaceutical advances.

John E. Calfee is a resident scholar at AEI and the author of Fear of Persuasion: A New Perspective on Advertising and Regulation.

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

John E.
Calfee
  • Economist John E. Calfee (1941-2011) studied the pharmaceutical industry and the Food and Drug Administration (FDA), along with the economics of tobacco, tort liability, and patents. He previously worked at the Federal Trade Commission's Bureau of Economics. He had also taught marketing and consumer behavior at the business schools of the University of Maryland at College Park and Boston University. While Mr. Calfee's writings are mostly on pharmaceutical markets and FDA regulation, his academic articles and opinion pieces covered a variety of topics, from patent law and tort liability to advertising and consumer information. His books include Prices, Markets, and the Pharmaceutical Revolution (AEI Press, 2000) and Biotechnology and the Patent System (AEI Press, 2007). Mr. Calfee wrote regularly for AEI's Health Policy Outlook series. He testified before Congress and federal agencies on various topics, including alcohol advertising; biodefense vaccine research; international drug prices; and FDA oversight of drug safety.

What's new on AEI

Expanding opportunity in America
image Moving beyond fear: Addressing the threat of the Islamic state in Iraq and Syria
image Foreign policy is not a 'CSI' episode
image The Air Force’s vital role
AEI on Facebook
Events Calendar
  • 21
    MON
  • 22
    TUE
  • 23
    WED
  • 24
    THU
  • 25
    FRI
Monday, July 21, 2014 | 9:15 a.m. – 11:30 a.m.
Closing the gaps in health outcomes: Alternative paths forward

Please join us for a broader exploration of targeted interventions that provide real promise for reducing health disparities, limiting or delaying the onset of chronic health conditions, and improving the performance of the US health care system.

Monday, July 21, 2014 | 4:00 p.m. – 5:30 p.m.
Comprehending comprehensive universities

Join us for a panel discussion that seeks to comprehend the comprehensives and to determine the role these schools play in the nation’s college completion agenda.

Tuesday, July 22, 2014 | 8:50 a.m. – 12:00 p.m.
Who governs the Internet? A conversation on securing the multistakeholder process

Please join AEI’s Center for Internet, Communications, and Technology Policy for a conference to address key steps we can take, as members of the global community, to maintain a free Internet.

Thursday, July 24, 2014 | 9:00 a.m. – 10:00 a.m.
Expanding opportunity in America: A conversation with House Budget Committee Chairman Paul Ryan

Please join us as House Budget Committee Chairman Paul Ryan (R-WI) unveils a new set of policy reforms aimed at reducing poverty and increasing upward mobility throughout America.

Event Registration is Closed
Thursday, July 24, 2014 | 6:00 p.m. – 7:15 p.m.
Is it time to end the Export-Import Bank?

We welcome you to join us at AEI as POLITICO’s Ben White moderates a lively debate between Tim Carney, one of the bank’s fiercest critics, and Tony Fratto, one of the agency’s staunchest defenders.

Event Registration is Closed
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.