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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Analysis of the record of pharmaceutical innovation by analysing data on the companies that introduced the ∼1,200 new drugs that have been approved by the FDA since 1950 shows that the new-drug output from pharmaceutical companies in this period has essentially been constant, and remains so despite the attempts to increase it.

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