Conditional and Lenient Drug Approvals

The authors appreciate feedback from Angelique Acquatella, Eric Budish, Pierre Dubois, Jennifer Kao, Margaret Kyle, Erzo Luttmer, Kathleen Miller, Paul Novosad, Marco Ottaviani, Jonathan Skinner, Christopher Snyder, Ariel Stern, Joe Stevens, and seminar participants at the American Society of Health Economists, the City University of Hong Kong, Congressional Budget Office, Dartmouth College, Duke University, the Shanghai University of Finance and Economics, the Toulouse School of Economics, Tsinghua University, the University of Chicago, the University of Texas at Dallas, Washington University in St. Louis, and conference participants at the CEPR-TSE Health Economics Conference, the INFORMS annual meeting, and the National Bureau of Economic Research conference on US Medical Innovation.