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Costs In Context

Perspectives On The Pharmaceutical Industry

This paper seeks to provide an economic perspective on the pharmaceutical industry, which has come under increasing criticism on a number of issues. In the main, that criticism amounts to a rather ineffective flailing at the supply side of the market for pharmaceutical products—much of it based on inaccurate perceptions—when a more productive policy would be to strengthen the hitherto weak and poorly informed demand side of the market.

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