Dean Baker — China Can Develop a Drug for Just 3 Percent the Cost in the United States

That would be an implication of research by Tufts University professor Joseph DiMasi. He found that it cost an average of $2.6 billion to develop a new drug in the United States. By contrast, the Wall Street Journal reported that a company in China developed a new cancer drug for just $70 million, less than 3 percent of DiMasi's estimate....

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China Can Develop a Drug for Just 3 Percent the Cost in the United States
Dean Baker | Co-director of the Center for Economic and Policy Research in Washington, DC