Medicine for Tomorrow: Some Alternative Proposals to Promote Socially Beneficial Research and Development in Pharmaceuticals

  title={Medicine for Tomorrow: Some Alternative Proposals to Promote Socially Beneficial Research and Development in Pharmaceuticals},
  author={J. E. Stiglitz and Arjun Jayadev},
  journal={Journal of Generic Medicines: The Business Journal for the Generic Medicines Sector},
  pages={217 - 226}
  • J. StiglitzArjun Jayadev
  • Published 1 July 2010
  • Political Science
  • Journal of Generic Medicines: The Business Journal for the Generic Medicines Sector
The current models of pharmaceutical drug discovery display significant inefficiencies. One inefficiency is the widespread prevalence of me-too drugs. Second, some patents can act as barriers to knowledge, by slowing down the pace of new discoveries. Third, there are higher costs for the public, who end up paying double costs — subsidizing or funding research and development (R & D) that leads to new discoveries on the one hand, and, on the other, paying the social costs of restricted access to… 

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