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Although it is commonly believed that the innovation of new medicines is of paramount importance for improving the health and quality of life of patients, there is also a keen recognition regarding upward-spiraling costs of innovation, drug discovery, and drug development against a backdrop of dwindling successes in research and development (R&D) efforts. We propose a new model of valuation of pharmacotherapies that attempts to secure an adequate return on investment in innovation by ensuring optimal pricing and reimbursement.Clinical Pharmacology & Therapeutics (2008); 84, 2, 263–266 doi:10.1038/clpt.2008.117 [ABSTRACT FROM AUTHOR]