For higher drug costs, see "Regulation and Pharmaceutical Innovation" by Peltzman, which shows through statistics that the 1962 FDA regulations have resulted in

For higher drug costs, see "Regulation and Pharmaceutical Innovation" by Peltzman, which shows through statistics that the 1962 FDA regulations have resulted in a large increase in drug costs with no net increase in safety. (While more bad drugs have been blocked, this is counterbalanced by good drugs taking much longer to be approved. Unknown is what drugs were never developed because of the much increased cost of the regulations.)