Pharmaceuticals and Public Policy: A Look Ahead
Keyword(s):
The Past
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Recognizing that the past often does not predict the future well, this chapter nevertheless offers prescience for the pharmaceutical industry in the next five to ten years. Using the standard economics paradigm of supply, demand, and market equilibrium, it considers the future of the industry in the following aspects: industrial organization, the nascent biosimilar sector, the promise of personalized medicine and digital healthcare information, artificial intelligence, the prospects for outpatient bundled payment programs, the setting of pharmaceutical prices, and the role of the FDA. The most important among them will be the scope and nature of health care reform in the United States and the jurisdiction of the FDA in the coming years.