Abstract
The pharmaceutical industry is a young industry. The majority of the drugs used today have been introduced during the last fifty years. In Sweden, 75 per cent of sales are referable to drugs (specialities) that are 15 years old or less (see Berlin and Jönsson, 1985). It is also a heavily regulated industry. Pharmaceuticals have been regulated since the seventeenth century in Sweden. From the beginning, it was the pharmacies that were regulated, but since the 1930s the industry has been the focus of regulation. During the last three decades, the regulation of safety and efficacy has become increasingly stringent. In Sweden, the prices of pharmaceuticals have also been regulated since 1934.