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Senior Fellow Benjamin Powell is Interviewed on American Medicine Today Radio on Drug Approvals and the FDA
Recorded: Saturday, December 12, 2015
What is the cost of the long approval process for potentially life-saving drugs by the FDA? The approval process can take up to 12 years and cost $1 billion. But there are other costs. Patients arent able to take drugs that arent approved and they might die or become more ill. Another cost is that a potential drug maker might not want to take the financial risk of taking a drug to market. Powell recommends testing drugs but possibly making drugs "FDA recommended", rather than "FDA approved." Whats needed is competition and markets to help patients and entrepreneurs, says Powell.
Experts: Benjamin W. Powell
Issues: Government Power, Health Care, Public Health/ Consumer Protection, Science
The Secret to Making Poor Nations Rich
Recorded: Thursday, February 21, 2008
Download the mp3 file
Part 1 |
For decades, efforts to end world poverty have focused on redistributing wealth, rather than creating it. This approach, however, has done little to foster long-term economic progress in Africa.
Experts: George B. N. Ayittey, Benjamin W. Powell, Alvaro Vargas Llosa
Type: Independent Institute Event
Issues: Defense and Foreign Policy, Diplomacy and Foreign Aid, Economic History and Development (International), Economic Policy, Free Market Economics, History (International), Latin America, Nationalism, Property Rights, Regulation and Deregulation, Taxes, Trade