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1 Henry G. Grabowski & John M. Vernon, The Search for New Vaccines i (1997)

handle is hein.amenin/aeiacpw0001 and id is 1 raw text is: THESARCH FOR NEW VACCINES THE EFFECT'S OF THE VACCINES FOR CHILDREN PROGRAM Traditionally, the involvement of the government in vaccines has been limited to providing free vaccination for the poor and near poor and requiring vaccinations to prevent infectious diseases. In 1993 that changed, however, when the Clinton administration created the Vaccines for Children program to increase the government's role in the purchase and distribution of vaccines. In this volume, Henry Grabowski and John Vernon examine the effect of the Vaccines for Children program on the incentives to invest in research and develop- ment for new and improved vaccines. The authors argue that significantly expanding the government sector in pediatric vaccines is a cost-ineffective policy that would lead to unintended adverse consequences. Eliminating most of the private market for vaccines and substituting government purchases at lower prices would suggest to R&D investors that tomorrow's pediatric vaccine breakthroughs are to be valued less than other medical breakthroughs. Ironically, a government program designed to advance children's health care could operate to curtail the opportunities for improving it. Henry G. Grabowski is professor of economics and director of the Program in Pharmaceuticals and Health Economics at Duke University. John M. Vernon is professor of economics at Duke University. ISBN 084474033-0 5 1495