The Power of Independent Thinking

Senior Fellow Benjamin Powell is Interviewed on American Medicine Today Radio on Drug Approvals and the FDA
Posted: Tue. December 15, 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 aren’t able to take drugs that aren’t 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." What’s needed is competition and markets to help patients and entrepreneurs, says Powell.

Recorded: Sat. December 12, 2015
Experts: Benjamin Powell
Type: Radio
Issues: Government Power, Health Care, Public Health/ Consumer Protection, Science

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