3 ms·
It was optional until the 1960s. It was changed to be mandatory because the market was full of safe but useless drugs. Considering how mere differences in mar
by vonmoltke 11y ago
It was optional until the 1960s. It was changed to be mandatory because the market was full of safe but useless drugs. Considering how mere differences in marketing requirements have not stopped a flood of useless homeopathic remedies, I expect that useless drugs would come back in force if that change were reversed.
- WalterBright 11y agoAmericans have paid a heavy price for this in terms of large reduction in the number of new pharmaceuticals coming to market, long delays for new cures, and, of course, huge price increases. See "Regulation of Pharmaceutical Innovation" by Sam Peltzman.