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Article: Clinical trials could become trying experience. (product liability insurance) (Special Report: Biotechnology)
- Article from:
- San Diego Business Journal
- Article date:
- August 29, 1994
- Author:
CopyrightCOPYRIGHT 1994 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Liability coverage is needed to protect firm from patient lawsuits
We live in an increasingly litigious society. Victims of crimes committed with assault weapons take gun manufacturers to court seeking to hold them liable for marketing "unreasonably dangerous" products. Non-smokers sue tobacco companies over the health effects of second-hand smoke.
As the biotech/biomedical/medical-device industries continue to mature, and bring to clinical trial and market more and more life-saving procedures and therapeutics, the potential for costly liability claims increases.
By their nature experimental drugs, therapeutics and diagnostic devices carry unknown or ...