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Economics Of Precision Medicine: Will It Lower Drug Costs?

This article was originally published in Scrip

Executive Summary

While some have asserted tailoring treatments and cures to individuals will make therapies significantly more expensive, Francis Collins, director of the National Institutes of Health (NIH), said he thinks there's a "fair chance" precision medicine approaches will actually lead to a drop in research and development costs, thereby lowering the amounts patients pay for those products.

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