The growth of government programs and managed care has altered how pharmaceuticals are marketed and sold in the United States. Such change has shortened the expected revenue stream from most products--even though new technologies have increased both the cost and the medical attractiveness of those products.

Managers of government and private health care programs are looking for new ways to reduce the cost of drug benefits, while company R&D managers are seeking ways to speed the regulatory process and develop new markets to cover the increasing cost of research.

This volume examines various aspects of the continuing policy dispute and offers several views on the future of the pharmaceutical industry.

Robert B. Helms is a resident scholar at AEI.

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