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Regulation’s Impact on Innovation: A Two-Edged SwordThe extent to which the pharmaceutical and medical device industries are regulated has consistently increased over the years. This trend is, at least in part, responsible for the decline in innovative new products (as measured by the number of approved new molecular entities and original pre-market approvals). And in the current environment of activist government the movement toward more regulation, and more stringent enforcement, seems certain to accelerate.
But there is one aspect of increasing regulation that trumps all others in terms of its potential impact on innovation – comparative effectiveness research.
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