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Yevgeniy Feyman: The Cost of Drug Development

December 4, 2014

Health Care News managing editor Sean Parnell spoke with Yevgeniy Feyman of the Manhattan Institute on the cost of drug development. Researchers at Tufts University updated a 2003 study, finding that it now costs about $2.

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Health Care News managing editor Sean Parnell spoke with Yevgeniy Feyman of the Manhattan Institute on the cost of drug development. Researchers at Tufts University updated a 2003 study, finding that it now costs about $2.6 billion to bring a new drug to market. This is an increase from the $800m cost estimated in the original 2003 study.

Parnell and Feyman discuss why it costs so much to develop a new drug, why it has increased since 2003, and what public policy solutions there may be to help reduce the cost of drug development.

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Health Care
Author
Sean Parnell (sparnell@heartland.org) is a research fellow for health policy at The Heartland Institute.
sparnell@heartland.org @seandparnell