Benefits and costs of newer drugs: an update

Article Abstract:

Introduction of new drugs that would replace the old ones was found to decrease medical spending. Decreasing the age of drugs used after approval results in increased drug spending and in reduced non-drug spending, even in Medicare members. The impacts of medical insurance coverage on purchasing of prescription drugs, are investigated.

Product introduction, Research Findings, New Products/Services, Accident & Health Insurance, Insurance Carriers, HEALTH SERVICES, Direct Health and Medical Insurance Carriers, Hospital and medical service plans, Medical Care Insurance, Usage, Health care industry, Influence, Health insurance, Marketing research, Market research, Report

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Commentary

Article Abstract:

An evaluation of three papers on the development and testing of new drugs, on marketing and usage of brand-name drugs and on generic competition is presented. F.M. Scherer's "Uncertainty and Choice: The Challenges of Pharmaceutical Efficacy, Safety and Cost" is among the evaluated papers.

Product development, General services, Pharmaceutical Preparation Manufacturing, Commodity & service prices, Generic Drugs, Safety and security measures, Prices and rates, Marketing, Criticism and interpretation, Company marketing practices, Company pricing policy, Critical essay

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