While most economists believe that public scientific research fuels industry innovation and economic growth, systematic evidence supporting this relationship is surprisingly limited. In a recent study, Acemoglu and Linn (2004) identified market size as a significant driver of drug innovation in...

In this work, I study the determinants of (implicit) trademark value. My approach is based on the idea that more valuable marks are likely to remain under legal protection, as long as the benefits of this protection exceed its costs, than less valuable marks. In order to test this idea, I...

We study cartels that operated in the US generic drug industry, leveraging quarterly Medicaid data from 2011-2018 and a difference-in-differences approach comparing the evolution of prices of allegedly collusive drugs with a group of competitive control drugs. Our analysis highlights (i) the...

Consumers suffer from high drug prices, which stem in large part from pharmaceutical companies’ anticompetitive games. This essay discusses the crucial role antitrust enforcement agencies can play in addressing pay-for-delay settlements and product hopping and draws lessons from this...

This paper investigates the relationship between contract manufacturing and quality risk — a term defined as the propensity of a manufacturing plant to operate out of compliance with required procedures. Contract manufacturing plants (hereafter, CM) are increasingly being used in many...

The zero-for-zero initiative on pharmaceuticals contributed to both the substantial increase in U.S. pharmaceutical imports during the past 20 years and the growing share of such imports held by formulated (dosage-form) products. Under the initiative, the United States and its major trading...

In this survey chapter on pricing and reimbursement in U.S. pharmaceutical markets, we first provide background information on important federal legislation, institutional details regarding distribution channel logistics, definitions of alternative price measures, related historical...

The Covid-19 pandemic is estimated to have caused over 7 million deaths and reduced economic output by over $13 trillion to date. While vaccines were developed and deployed with unprecedented speed, pre-pandemic investments could have accelerated their widespread introduction, saving millions of...

In this ex-post analysis, we have used three large pharmaceutical merger cases to examine the correctness of the market definition carried out by the FTC and the European Commission with regard to innovation competition. In doing so, we selected three merger cases that were reviewed by both...