Pharmacoeconomics and clinical trials in multiple sclerosis: baseline data from the European Union

What is it about?

One of the contemporary debates between science and economics is concerned with why, and to what extent, financial cost and economic efficiency considerations affect scientific inquiry into possible solutions to human illnesses. This study inquires into clinical drug trials for multiple sclerosis (MS) in the European Union to determine the validity of a prevailing claim, advanced in the medical community, that the clinical efficacy of these drugs is undermined by cost and efficiency considerations.

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Why is it important?

The study suggests that pharmacoeconomic approaches to clinical efficacy help broaden and enhance our understanding and choices of disease management options for MS sufferers, their families and health care providers in the European Union and elsewhere. Finally, there is some empirical evidence to indicate an inverse relationship between transaction costs and drug marketability: The higher the transaction costs of clinical testing, the lower is the drug's potential for funding and eventual marketing.