their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to … reduce overall innovation. Consumers are always worse off after a merger. Our model calls into question the applicability of … the "inverted-U" relationship between innovation and competition to a merger setting. …

I investigate the contribution of pharmaceutical innovation to recent longevity growth in Germany and France. First, I …-2006. The estimates imply that chemotherapy innovation accounted for at least one-sixth of the decline in French cancer …

We use longitudinal, disease-level data to analyze the impact of pharmaceutical innovation on longevity and medical … expenditure in Sweden, where mean age at death increased by 1.88 years during the period 1997-2010. Pharmaceutical innovation is … the number of drugs to treat a disease, not the number of drug classes. Pharmaceutical innovation also reduced hospital …