Patent settlements, not lawsuits, are lowering drug costs

Pharmaceutical drugs are expensive, both to produce and to consume. The average cost to develop one new drug is approximately $2.6 billion, and those expenses are reflected in the drug’s brand-name price tag. In addition, less than 14 percent of newly discovered drugs ever make it to the approval stage and reach the market.

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Michael Busler

Dr. Busler is an economist and a public policy analyst. He is a Professor of Finance at Stockton University. His op-ed columns appear in Townhall, Newsmax.