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legalized reimportation of lower-priced pharmaceuticals from foreign countries. This study uses the Clinton Administration …
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We investigate return patterns of lottery-type-stocks around FDA announcements regarding New-Drug-Applications (NDAs), Biological-Licensing-Applications (BLAs), and New-Molecule-Entities (NMEs). Focusing on post-event returns, we document negative abnormal returns (‘bio-run-down’) for the...
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