This paper quantifies the relationship between market size and innovation in the pharmaceutical industry using improved …, and newer, methods and data. We find positive significant elasticities of innovation to expected market size with a point … the cost of innovation of 800 million to one billion per drug, and marginal costs of manufacture and distribution near 50 …

communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the … transfer, and their implications for investment, innovation, and product market competition. The model also sheds light on the …