The Law and Economics of Drug Development

November 7, 2008

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Symposium Overview

New drugs promise to prolong and improve the quality of human lives. But, as the cost of new drug development increases, policy makers face difficult tradeoffs. This symposium addressed some of the most pressing policy questions facing FDA, Congress, and the courts, including:

• How have recent regulatory initiatives affected the introduction of new drugs?
• What role remains for state tort liability alongside the federal regime for regulating the safety of drugs?
• How can the current system of incentives be improved?

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Symposium Sponsors

Program in Law, Economics, & Technology, University of Michigan Law School

Michigan Telecommunications & Technology Law Review (with generous funding from Microsoft Corporation)

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Symposium Participants

Robert Armitage

Senior Vice President and General Counsel
Eli Lilly and Company

Omri Ben-Shahar

Professor of Law
University of Chicago Law School

Rebecca Eisenberg

Professor of Law
University of Michigan Law School

Scott Hemphill

Professor of Law
Columbia Law School

Peter Barton Hutt

Senior Counsel
Covington & Burling LLP

Ariel Katz

Professor of Law
University of Toronto Faculty of Law

Frank Lichtenberg

Professor of Business
Columbia University Graduate School of Business

Lars Noah

Professor of Law
University of Florida Levin College of Law

Mary Olson

Professor of Economics
Tulane University

Benjamin Roin

Professor of Patent Law
Harvard Law School

Catherine Sharkey

Professor of Law
New York University School of Law

Scott Stern

Professor of Management & Strategy
Kellogg School of Management, Northwestern University

Qing Zhang

Professor of Law
China University of Political Science and Law

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Symposium Panels

Panel I: Regulatory Initiatives

(Omri Ben-Shahar, Moderator)

• Ariel Katz
• Frank Lichtenberg
• Mary Olson
• Scott Stern
• Qing Zhang

Panel II: Alternative Perspectives on IP Regimes

(Peter Barton Hutt, Moderator)

• Robert Armitage
• Rebecca Eisenberg
• Scott Hemphill
• Benjamin Roin

Panel III: Federal Preemption and Torts

(Rebecca Eisenberg, Moderator)

• Lars Noah
• Catherine Sharkey