Do Important Drugs Reach the Market Sooner

摘要: Since the Food and Drug Administration (FDA) Amendments of 1962, average time from a drug's first worldwide patent application to its approval by FDA has risen 3.5 13.5 years. policies manufacturers' incentives suggest that more important drugs may have reached market sooner. To test this, we develop measures "time approval" "importance," determine how latter affects former. Our results indicate are developed approved rapidly than less drugs. These imply costs lags probably been overstated challenge estimates returns research development in pharmaceutical industry.