Silver Book Fact

Each new drug approved between 1970 and 1991 saves an average of 11,200 life-years in 1991.

Lichtenberg, Frank R. Longer Living Through Chemistry. The Milken Institute Review. Feb-2004; 1st quarter

Reference

Title
Longer Living Through Chemistry
Publication
The Milken Institute Review
Publication Date
Feb-2004
Authors
Lichtenberg, Frank R

Categories

  • Innovative Medical Research
  • Human Value

Related Facts

  • Increased longevity added about $3.2 trillion per year to national wealth between 1970 and 2000, an uncounted value equal to approximately 1/2 of the average annual GDP during that period.  
  • Analysis suggests that in the past 20 years, each additional dollar spent on health care services produced health gains valued at between $2.40 and $3.00.  
  • Improvements in preventing and managing chronic disease could reduce future economic costs in the United States by 27% ($1.1 trillion) in 2023. $905 billion would come from gains in productivity;…  
  • The United States would have spent $634 billion less on health care in 2000 without many of the improvements in health and the associated investments that were seen between 1980…  
  • New Medicines Account for 40% of Increase in Life Expectancy