Within the last decades, there have been many technological and regulatory changes in the pharmaceutical industry. Some of these developments facilitate the innovative activities of large firms, while others foster small firms. It is therefore surprising that the implications of these changes in...

Policy makers need reliable estimates of direct costs of pharmaceutical R&D, in order to contain health-care costs and at the same time maintain a supportive environment for investment in research. This paper evaluates the application of parametric estimating methods to the late stage clinical...

The pharmaceutical industry has become one of the most powerful and potential industry for the economic growth in the world. Accordingly, many countries have increased research and development (R&D) investment with the goal of producing new drugs. As R&D in the pharmaceutical industry became...

This paper intends to discuss the effectiveness of government policies for supporting Korean pharmaceutical companies using the comparison of R&D efficiency business efficiency scores between government policy supporting groups and non-supporting groups. First of all, the framework for...

In any assessment of the R&D capabilities of Indian companies, their patent holdings would have to be examined. Here we identify the number of patents assigned by four foreign governments to Indian pharmaceutical and biotechnological companies up to December 31, 2009. It is known that the United...

Drug recalls, contamination events, and shortages are on the rise, but drug companies still rely on decades-old manufacturing plants and processes. Contrary to widespread perceptions, drug manufacturing is typically expensive, inefficient, and non-innovative. Drug companies spend much more on...

This paper analyzes M&A patterns of R&D projects in the antidiabetics industry. For this purpose, we construct a database with all corporate individual antidiabetics R&D projects over the period 1997 - 2017, and add detailed information on firms' technology dimension using patent information,...

We examine the role of spillover learning in shaping the value of exploratory versus incremental R&D. Using data from drug development, we show that novel drug candidates generate more knowledge spillovers than incremental ones. Despite being less likely to reach regulatory approval, they are...

We explore how firms respond to downstream product shocks. We find that affected firms increase R&D and make additional safety-related investments in their existing assets-in-place. These investments vary with firm capabilities and across shock severity. Competitors appear to vicariously learn...