This chapter describes the market for pharmaceuticals, which exceeded $500 million in sales in 2010. The industry is … the application of biotechnology to drug development as well as firms that specialize in low-cost production of off-patent … research and incentives for innovation. We then summarize the pricing and marketing of drugs in the US and several other …

Patent settlements between originator and generic firms in the pharmaceutical industry have been challenged by … entry and therefore harming consumers. However, it is still heavily disputed under what conditions such patent settlements … contributed to our knowledge about the effects of these patent settlements and the possible rules for their antitrust treatment …