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Modern drugs are invented according to medical needs, making use of the latest innovations in technology. They are sophisticated, efficacious, and costly, but are they effective? Are they superior to existing - and cheaper - alternatives, and is this superiority reflected in increased cost-effectiveness? Are they socially more beneficial? These questions, and those related to the intriguing search for better quality of life, are addressed in this book by experts from the fields of medicine, epidemiology, economics, sociology and the pharmaceutical industry. The book describes the environmental situation in the United States and Europe in which pharmaceutical development takes place; it also explores the grounds for agreement as well as disagreement between the social and the economic evaluations of progress. It tackles the problem of outcome measurements, patients' behavior, quality of life, and individual value judgments and describes methodological boundaries in the socioeconomic evaluation of drugs.