Drug development is costly so drug makers need accurate estimates of sales potential. However, sales forecasts are often unreliable. Our study is unique in combining a large sample of drug classes with data on entry order and promotional spending to estimate peak market share while controlling...

This paper examines whether financial analysts use the information contained in clinical trial disclosures to improve their forecast accuracy for pharmaceutical companies. Findings indicate that the improved clinical trial disclosures due to a quasi-regulation issued by the International...