E-drug: Re: US compulsory licensing proposal for medicines (cont)
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An empirical study found that the decline in new chemical entities after
the 1962 amendments was relatively concentrated in only a few therapeutic
classes. This implies that the "quantum jump in regulatory requirements"
was not the primary factor involved in the decline. An alternative
hypothesis is required. See Steven Wiggins, "Product Quality Regulation
and New Drug Introductions: Some New Evidence from the 1970s." Review of
Economics and Statistics, November 1981.
David Veazey
Dept. of Economics
Fordham University
New York, NY
veazey@fordham.edu
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