Next week, a conference on Economic Dimensions of Personalized and Precision Medicine (PPM) will be held on September 21 and 22 at Columbia University (NY, USA). Precision medicine, the targeting of therapies on the basis of an individual’s biological, genetic, or clinical characteristics, is rapidly gaining prominence in health care. PM may upend traditional models of health insurance, reimbursement, and regulation. The conference is organized in the frame of a research program supported by the NBER. Founded in 1920, the National Bureau of Economic Research  is an American private nonprofit research organization committed to undertaking and disseminating unbiased economic research. It is the largest economics research organization in US, with many recipients of the Nobel prize in economic sciences. At this conference, I will present an overview of our Empirical economic analysis of orphan drug innovation as an example of PPM economic dimension.