Entrepreneurship in Off-Label Drug Prescription
Just What the Doctor Ordered!
Originally published in Journal of Private Enterprise
This paper finds that physicians and pharmaceutical companies working as entrepreneurial actors were able to better serve patients by finding effective alternative uses of three drugs. I examine off-label drug prescriptions within an entrepreneurial framework by examining the development process of aspirin, Viagra, and minoxidil. In each case, the medical community reached research and treatment conclusions quicker than the FDA did. These examples provide counterevidence to the view that off-label prescription is reckless and requires additional governmental oversight due to a lack of sufficient testing.