Resident Scholar John  E. Calfee

Overdose offers a comprehensive examination of the pharmaceutical industry by following the course of a new drug as it progresses from early development to final delivery. Richard A. Epstein looks closely at the regulatory framework that surrounds creating pharmaceutical products, and Epstein assesses which current legal and regulatory practices work and which ones have gone awry. In Overdose Epstein cautions that more stringent controls over every aspect of drug development and approval will stifle pharmaceutical innovation and slow the delivery of beneficial treatments to patients who need them. Epstein considers the numerous challenges that face the industry and argues that to ensure continuing creativity, efficiency and success of the pharmaceutical industry, the best system will feature strong property rights and clear enforceable contracts with minimal regulatory or judicial interference.

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John E. Calfee is a resident scholar at AEI.