Accounting for Prescription Drugs’ Unforeseen Risks: A Regulatory Alternative to Tort Liability

DSpace/Manakin Repository

Accounting for Prescription Drugs’ Unforeseen Risks: A Regulatory Alternative to Tort Liability

application/pdf Download Full Text

Citable link to this page

. . . . . .

Title: Accounting for Prescription Drugs’ Unforeseen Risks: A Regulatory Alternative to Tort Liability
Author: Horowitz, Haley
Citation: Haley Horowitz, Accounting for Prescription Drugs’ Unforeseen Risks: A Regulatory Alternative to Tort Liability (May 2009).
Full Text & Related Files:
Abstract: In the context of prescription drugs, tort law is traditionally understood to providing added incentive for drug manufacturers to adhere to regulations of the Food and Drug Administration (FDA) and to account for risks unknown at the time of regulation. However, holding drug manufacturers liable for risks that were unforeseen at the time of FDA approval may lead to a suboptimally high level of risk avoidance. On the other hand, preemption of all tort liability would eliminate valuable incentives created by the tort system for the on-going, post-market monitoring of prescription drugs. I therefore propose an alternate system that would harness the resources of the private sector to invest the optimal amount in researching prescription drugs’ risks and makes this information available to the parties best suited to weigh any newly discovered risks, without holding manufacturers liable for these risks in such a way as to distort the FDA’s social utility determination.
Terms of Use: This article is made available under the terms and conditions applicable to Other Posted Material, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#LAA
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:10015295

Show full Dublin Core record

This item appears in the following Collection(s)

 
 

Search DASH


Advanced Search
 
 

Browse

 
 

Submitters