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September 26, 2006

Introducing "Overdose," a new IPI book by Richard Epstein

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I'm proud to announce the release of a new book by IPI, entitled Overdose: How Excessive Government Regulation Stifles Pharmaceutical Innovation.

The author is our good friend and legal genius Richard A. Epstein. The book is published by Yale University Press, but it says "An Institute for Policy Innovation Book" in large, friendly letters on the title page and jacket. The actual release date is October 15, but we have copies on hand, and you can order it on

The book began back in 2004 as an idea for a paper. We approached Richard wanting him to write a monograph for IPI on some specific issues related to proposed alternative models for pharmaceutical R&D. But it turns out that Richard had been carrying around in his head a number of topics related to pharmaceutical innovation, and our idea for the paper was simply the event that triggered a torrent of good stuff from Richard's incredibly productive and creative mind.

That material ended up in the book as Chapter 10, "Socialization of R&D." But there are 17 other chapters that should be of interest to anyone who is interested in the process of pharmaceutical innovation, and in particular of the many ways in which government regulations make it more difficult than it should be to discover new molecules and bring them to market in a cost-effective way.

Richard's conclusion is that we need fewer, rather than more, government controls on the process of pharmaceutical innovation if we want this industry to keep producing the cures and treatments that we have come to expect.

We hope this book will become an important text in the health economics field, and will influence a generation of students, health care experts, and economists.

We were grateful that Yale University Press found the manuscript compelling, and we're looking forward to working with Yale on the promotion of the book, and perhaps on future book projects as well. Book release events are being scheduled for New York City and Washington DC, and perhaps some other places as well.

I'm walking around Geneva this week with 2-3 copies in my bag, so you can hit me up for one of those if you're here. Otherwise, you can get a copy from Amazon. Alternatively, for a million dollar contribution to IPI I'll personally deliver a signed copy to your door (or to anywhere else, for that matter).

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