We analyze the effects on consumers of an extreme policy experiment -- Napsterizing' pharmaceuticals -- whereby all … patent rights on branded prescription drugs are eliminated for both existing and future prescription drugs without … compensation to the patent holders. The question of whether this policy maximizes consumer welfare cannot be resolved on an a …

stage pharmaceutical innovation? We explore this question using novel data sources and an empirical framework that models … implications of our results for long-run welfare, policy, and innovation …

Brand and generic drug manufacturers frequently settle patent litigation on terms that include a payment to the generic … generic, and conduct an event study of the announcement of the patent settlements on the stock price of the brand. For …

Settlements of drug patent disputes that involve a potential payment from the brand to the generic signal a possible …

, off-patent and generic drug prices are at least four times higher in the United States than in comparable English …-speaking high income countries. With five or more competitors, off-patent drug prices are similar or lower. Our analysis shows that …

tuberculosis drugs, we show that there is an immediate and large increase in licensing by generic firms when a patent is included … in the Medicines Patent Pool (MPP). The effect is heterogeneous across countries. The findings are robust to …

We examine the impact of loss of U.S. patent exclusivity (LOE) on the prices and utilization of specialty drugs between …

In agreements settling patent challenges in the drug industry, the plaintiff brand commonly licenses the defendant … generic to sell prior to patent expiry. Some agreements require the generic to pay the brand royalties. Despite the …

empirically important phenomenon of diffusion of generic drugs into the market following patent expiration. We find very …