The portfolio approach of financing drug development has been proposed as a financial innovation to improve the risk/return tradeoff of investment in drug development projects through the use of diversification and securitization. By investing in a sizable and well-diversified portfolio of novel...

What is the return to COVID-19 vaccine innovation? This paper seeks to quantify both private and social returns, using available data on commercialized vaccines and certain assumptions about the pandemic’s epidemiological path as well as the economic costs of containment measures. The...

Operation Warp Speed (OWS) was a U.S. government-led program to accelerate the development, production, and administration of COVID-19 vaccines. The program cut the typical ten-year timeline needed to develop a new vaccine down to ten months and began vaccinating vulnerable populations within a...

The COVID-19 crisis intensified decade-long debates on the interaction between intellectual property rights (IPRs), competition law and access to affordable life-saving treatments and vaccines. Compulsory licensing of patented medicines is a tried-and-tested method to expand access, particularly...