Economic and Technological Drivers of Drug Shortages Forum, Mar. 20
The Center for Business and Public Policy at Georgetown University’s McDonough School of Business will present “Economic and Technological Drivers of Drug Shortages,” a business, economics, and public policy seminar featuring Marta Wosinska, from the Center for Drug Evaluation Research of the Food and Drug Administration.
Wednesday, March 20, 2013
Lunch will be served.
Georgetown University McDonough School of Business
Rafik B. Hariri Building, Room 415
Washington, DC 20057
To RSVP, visit http://wosinskafda.eventbrite.com
Media who are interested in covering the event should contact Teresa Mannix, senior director of communications, at (202) 687-4080 or firstname.lastname@example.org.
In recent years, an increasing number of critically needed medicines have been in short supply. Using economic theory to frame the drug-shortage problem, Wosinka will discuss why and how manufacturing-quality problems could combine with other economic and technological factors to result in shortages of generic sterile injectable drugs. The fundamental problem identified is the inability of the market to observe and reward quality. This lack of reward for quality reinforces price competition, and encourages manufacturers to keep costs down by eschewing quality investments. The U.S. Food and Drug Administration’s need to use its regulatory flexibility, on behalf of patients, to avoid shortages of medically necessary drugs may further strengthen the incentive to “push the envelope” on quality. These dynamics may have produced a market situation in which quality problems have become sufficiently common and severe to result in drug shortages.
Marta Wosinska is the director of the economics staff at the Center for Drug Evaluation and Research of the Food and Drug Administration. She previously was an assistant professor at Harvard Business School. Her publications have appeared in leading marketing and policy journals such as the Journal of Marketing Research and Health Affairs. Wosinska received a Ph.D. in Economics from the University of California at Berkeley and a B.S. from Arizona State University.
About the Georgetown Center for Business and Public Policy
The Georgetown Center for Business and Public Policy is an academic, non-partisan research center whose mission is to engage scholars, business people and policymakers in relevant inquiries and dialogue to impact key business, economic and public policy issues confronting American and international businesses today. Housed at Georgetown University's McDonough School of Business, the Georgetown Center was created in 2002 to encourage thoughtful discussion and to document and disseminate knowledge on a range of issues in the public interest. Learn more at http://cbpp.georgetown.edu. Follow on Twitter @GeorgetownCBPP
About Georgetown University’s McDonough School of Business
Georgetown University’s McDonough School of Business provides a transformational education through classroom and experiential learning, preparing students to graduate as principled leaders in service to business and society. Through numerous centers, initiatives, and partnerships, Georgetown McDonough seeks to create a meaningful impact on business practice through both research and teaching. All academic programs provide a global perspective, woven through the undergraduate and graduate curriculum in a way that is unique to Washington, D.C. – the nexus of world business and policy – and to Georgetown University’s connections to global partner organizations and a world-wide alumni network. Founded in 1957, Georgetown McDonough is home to some 1,400 undergraduates, 1,000 MBA students, and 1,200 participants in executive degree and open enrollment programs. Learn more at http://msb.georgetown.edu. Follow us on Twitter @msbgu.