000			02905cam a22003497 4500
001			w18552
003			NBER
005			20211020110431.0
006			m o d
007			cr cnu||||||||
008			210910s2012 mau fo 000 0 eng d
100	1		_aLichtenberg, Frank R. _915303
245	1	4	_aThe Effect of Pharmaceutical Innovation on Longevity: _bPatient-Level Evidence from the 1996-2002 Medical Expenditure Panel Survey and Linked Mortality Public-Use Files / _cFrank R. Lichtenberg.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2012.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w18552
500			_aNovember 2012.
520	3		_aWe investigate the effect of the vintage (year of FDA approval) of the prescription drugs used by an individual on his or her survival and medical expenditure. When we only control for age, sex, and interview year, we estimate that a one-year increase in drug vintage increases life expectancy by 0.52%. Controlling for other variables including activity limitations, race, education, family income as a percent of the poverty line, insurance coverage, Census region, BMI, smoking and over 100 medical conditions has virtually no effect on the estimate of the effect of drug vintage on life expectancy.
520	3		_aBetween 1996 and 2003, the mean vintage of prescription drugs increased by 6.6 years. This is estimated to have increased life expectancy of elderly Americans by 0.41-0.47 years. This suggests that not less than two-thirds of the 0.6-year increase in the life expectancy of elderly Americans during 1996-2003 was due to the increase in drug vintage. The 1996-2003 increase in drug vintage is also estimated to have increased annual drug expenditure per elderly American by $207, and annual total medical expenditure per elderly American by $218. This implies that the incremental cost-effectiveness ratio (cost per life-year gained) of pharmaceutical innovation was about $12,900.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aI12 - Health Behavior _2Journal of Economic Literature class.
690		7	_aJ11 - Demographic Trends, Macroeconomic Effects, and Forecasts _2Journal of Economic Literature class.
690		7	_aO33 - Technological Change: Choices and Consequences • Diffusion Processes _2Journal of Economic Literature class.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w18552.
856	4	0	_uhttps://www.nber.org/papers/w18552
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w18552
942			_2ddc _cW-PAPER
999			_c329570 _d288132