Pharmaceutical products are developed, approved, manufactured, traded, and used under complex and demanding regulatory schemes. While the intensity of regulation varies substantially among countries, lightly regulated markets are the exception, particularly from an economic standpoint. In this...

One of the most heated discussions in economics in recent years has concerned the relationship between market structure and innovation. After a half-century of debate and innumerable studies, the consensus is that there is no clear answer to the question. On a concrete level, the uncertainty...

Internet provides an interesting contribution to the ever growing business information explosion, especially through PR releases, creating the risks of overwhelming the researcher using electronic search engines. A good screening procedure allows getting useable information by the search...

This paper analyses a detailed data set on drugs in human clinical trials around the world between 1989 and 2002. The data provides information on the probabilities with which drugs successfully complete the different phases of the trials and the durations of successful completions. The paper...

COVID-19 has halted the world with significant impacts on human lives and economies. Humanity is facing the biggest challenge since the Second World War. As the world grapples with this pandemic, questions are also being raised about China’s role in the COVID-19 outbreak. The issues that are...

There are several determinants that could have an effect on in-licensing decisions by a pharmaceutical or biotech firm. This work studies over 200 licensing deals involving big pharma companies in the period (2011 – 2015) and identifies different factors that could play a role in licensing...

The Brazilian pharmaceutical industry has always been targeted by the society, due to the ethical drugs' high weight in the families' consumption budgets (especially within the poorer ones) and price raises traditionally above inflation (when the government does not run a price control). The...

Based on interviews in LEO Pharma, UCB Pharma and Novo Nordisk, we document how deep-seated changes in the pharmaceutical industry related to increasing demands from payers, the strengthening of the role of patients, changing legal demands, and declining technological opportunity, drive a...

Most countries regulate pharmaceutical prices, either directly or indirectly, on the assumption that competition is at best weak in this industry. This paper tests the hypothesis that regulation of manufacturer prices and of retail pharmacy margins undermines price competition. We use data from...

Scholars argue that the presence of persistent first-mover advantages obviates the need for relatively long-lived patents as incentives for innovations. What then is the impact of the strengthening of patent protection, particularly in developing economies, on non-patent-based first-mover...