Innovation in the pharmaceutical industry: New estimates of R&D costs.

  title={Innovation in the pharmaceutical industry: New estimates of R\&D costs.},
  author={Joseph A DiMasi and Henry G. Grabowski and Ronald W. Hansen},
  journal={Journal of health economics},

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  • A. Smith
  • Political Science
    Dental student
  • 1965
Basic facts about the drug industry's recent spending on research and development (R&D) and its output of new drugs are reviewed and the role of expected profits in private firms' decisions about investing in drug R&D is examined.