Innovation and the Pharmaceutical Industry: Critical Reflections on the Virtues of Profit Book

Preface Martin D. Beirne v

I Introduction

Pharmaceutical Innovation and the Market: The Pursuit of Profit and the Amelioration of the Human Condition H. Tristram Engelhardt Jeremy R. Garrett 1

II The Social Responsibility of Pursuing Profit

The Unavoidable Goodness of Profit: The Cunning of Reason and the Realization of Human Well-Being H. Tristram Engelhardt 17

Corporate Social Responsibility and Business Ethics in the Pharmaceutical Industry Nicholas Capaldi 33

Pharmaceutical Companies and Their Obligations to Developing Countries: Psychopaths or Scapegoats? Pepe Lee Chang 46

III Autonomy, Advertising, and Pharmaceutical Costs

Autonomy, Constraining Options, and Pharmaceutical Costs James Stacy Taylor 67

Pharmaceutical Advertising and Patient Autonomy Andrew I. Cohen 80

IV Some Criticisms of the Pharmaceutical Industry Critically Re-Examined

Why America Does Not Have a Second Drug Problem Richard A. Epstein 100

Global Drug Innovation in a World of Financial Finitude: Retailing Virtue to Promote Capital Formation and Profit Michael A. Rie 128

V Markets, Pharmaceuticals, and Health Savings Accounts

Time, Money, and the Market for Drugs John C. Goodman 153

Perils of Parallel Trade: Reimporting Prescription Drugs from Canada to the U.S. John R. Graham 184

VI Pharmaceutical Liability: Another Source of Health Care Costs

Risk, Responsibility, and Litigation Sandra H. Johnson Ana Smith Iltis 193

Contributors 231

Index 233