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Strategies & Market Trends : Fidelity Select Sector funds
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To: Shihchung Diana Shiue who started this subject5/29/2002 7:22:44 AM
From: Julius Wong   of 4916
 
Wall Street Journal

WASHINGTON -- A new study that finds a lack of innovation in the prescription-drug industry has ignited a fresh fight between the pharmaceuticals industry and a nonprofit group with ties to insurance companies.

The study, released Tuesday night by the Washington-based National Institute for Health Care Management Foundation (www.nihcm.org), finds that two-thirds of the prescription drugs approved by the Food and Drug Administration between 1989 and 2000 were identical to existing drugs or modified versions of them. Only about one-third of the drugs approved by the FDA during the time period were based on new "molecular entities'' that treat diseases in novel ways, the group said.

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