This dissertation addresses two important public health problems, namely hypertension prevention and medical product safety in China and the United States. The first essay employs PoPMoD, a life-table based disease model to analyze the long-term costs and effectiveness of eight selected hypertension prevention interventions in China. The results show that selected population-based interventions are more cost-effective than individual-based pharmaceutical therapies. The second essay explores the costs of medical product safety litigation in the U.S. — and thus incentives to invest in product safety — by modeling and estimating changes in the market values of pharmaceutical firms involved in ongoing medical mass torts. The third essay reviews recent changes and remaining problems in China’s drug safety regulation since the occurrence of several high-profile, deadly incidents during 2006-2008.