Vernon, John A.; Golec, Joseph H.; Lutter, Randall; … - In: The Quarterly Review of Economics and Finance 49 (2009) 4, pp. 1260-1274
FDA approval times have declined significantly since the enactment of the Prescription Drug User Fee Act (PDUFA) in 1992. As a result, present value expected returns to pharmaceutical R&D have likely increased. In the current paper we employ a unique survey dataset, one which includes data from...
