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Regulating Drug Prices while Increasing Innovation

List of authors.
  • Rena M. Conti, Ph.D.,
  • Richard G. Frank, Ph.D.,
  • and Jonathan Gruber, Ph.D.

To save money on drugs while encouraging high-value pharmaceutical innovation, we need to better reward value, increase NIH funding for early-stage research, and reduce expenses and risks for developers of drugs whose social value exceeds their financial value.

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Funding and Disclosures

Disclosure forms provided by the authors are available at

This article was published on November 13, 2021, at

Author Affiliations

From the Department of Markets, Public Policy and Law, Questrom School of Business, Boston University, Boston (R.M.C.); the USC–Brookings Schaeffer Initiative on Health Policy, Brookings Institution, Washington, DC (R.G.F.); and the Department of Economics, Massachusetts Institute of Technology, Cambridge (J.G.).