Free to Choose Medicine and Right to Try (PowerPoint Presentation)

22 Pages Posted: 20 Jul 2016  

Bartley J. Madden

DePaul University - Center for Strategy, Execution and Valuation; Illinois Institute of Technology - Center for Corporate Performance

Date Written: July 19, 2016

Abstract

This PowerPoint presentation summarizes why consumer choice and competition are needed to restructure the FDA regulatory system. We need a new system that allows patients, advised by their doctors, to make informed decisions about the use of not-yet-approved drugs versus FDA-approved drugs. Decisions consistent with their own unique health situations and consistent with their own preferences for risk. Three principles of Free To Choose Medicine are described that provide the foundation for such a system. Support for freedom of choice for patients has been gaining momentum as 31 states have passed Right To Try legislation. This state legislation would allow patients with a terminal illness access to not-yet-FDA-approved drugs. Three future political scenarios are laid out as possible responses to the new political environment created by Right To Try. There may be a near-term opportunity for substantial support of Free To Choose Medicine principles in order to achieve the bipartisan goal of better drugs, sooner, at lower cost.

Keywords: Free To Choose Medicine, Right To Try, FDA reform, competition, consumer choice

JEL Classification: A13, D3, D81, E61, H11, I11, I18, L51

Suggested Citation

Madden, Bartley J., Free to Choose Medicine and Right to Try (PowerPoint Presentation) (July 19, 2016). Available at SSRN: https://ssrn.com/abstract=2811866

Bartley J. Madden (Contact Author)

DePaul University - Center for Strategy, Execution and Valuation ( email )

1 East Jackson Blvd.
Chicago, IL 60604
United States

Illinois Institute of Technology - Center for Corporate Performance ( email )

10 West 35th Street, 18th Floor
Chicago, IL 60616
United States

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