Comanor, William S.; Scherer, F.M. - In: Journal of Health Economics 32 (2013) 1, pp. 106-113
Conflicting trends confound the pharmaceutical industry. The productivity of pharmaceutical innovation has declined in … innovation prospects, some companies have sought refuge in mergers and acquisitions to disguise their dwindling prospects or gain … declining rate of innovation. In this paper, we consider the second of these causal relationships: the likely impact of the …