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Evaluation and Learning in R&D Investment

Frankel, Alex; Krieger, Joshua L.; Li, Danielle; … - National Bureau of Economic Research - 2023

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...

Persistent link: https://www.econbiz.de/10014287391

Market Size and Research : Evidence from the Pharmaceutical Industry

Byrski, Dennis; Gäßler, Fabian; Higgins, Matthew J. - National Bureau of Economic Research - 2021

Prior literature has established a link between changes in market size and pharmaceutical innovation; whether a link exists with scientific research remains an open question. If upstream research is not responsive to these changes, the kinds of scientific discoveries that flow into future drug...

Persistent link: https://www.econbiz.de/10012533407

Don't Throw the Baby Out With the Bathwater : Firm Response to Downstream Product Shocks

Akari, Phares; Chatterjee, Chirantan; Higgins, Matthew J. - National Bureau of Economic Research - 2024

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...

Persistent link: https://www.econbiz.de/10014635666

Market Size in Innovation : Theory and Evidence From the Pharmaceutical Industry

Acemoglu, Daron - 2003

This paper investigates the effect of (potential) market size on entry of new drugs and pharmaceutical innovation. Focusing on exogenous changes driven by U.S. demographic trends, we find that a 1 percent increase in the potential market size for a drug category leads to a 4 to 6 percent...

Persistent link: https://www.econbiz.de/10012468658

An Optimal Mechanism to Fund the Development of Vaccines Against Emerging Epidemics

Snyder, Christopher M.; Hoyt, Kendall; Gouglas, Dimitrios - National Bureau of Economic Research - 2022

We derive the optimal funding mechanism to incentivize development and production of vaccines against diseases with epidemic potential. In the model, suppliers' costs are private information and investments are noncontractible, precluding cost-reimbursement contracts, requiring fixed-price...

Persistent link: https://www.econbiz.de/10013462668

Calculating the Costs and Benefits of Advance Preparations for Future Pandemics

Glennerster, Rachel; Snyder, Christopher M.; Tan, … - National Bureau of Economic Research - 2022

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...

Persistent link: https://www.econbiz.de/10013435127

The Effects of Off-label Drug Use on Disability and Medical Expenditure

Blankart, Katharina; Lichtenberg, Frank R. - National Bureau of Economic Research - 2022

Does using prescription drugs off-label increase disability and medical expenditure? This paper uses a unique dataset to evaluate off-label vs. on-label drug use in the US non-institutionalized population. Patients using drugs off-label have on average $515 higher medical expenditure and...

Persistent link: https://www.econbiz.de/10013388796

Auditing the Prescription Drug Consumer Price Index in a Changing Marketplace

Frank, Richard G.; Hicks, Andrew; Berndt, Ernst R. - National Bureau of Economic Research - 2022

prescription pharmaceuticals dispensed in hospitals, physician/clinic outpatient facilities, and nursing homes. Thus the CPI …-Rx overlooks the increasingly important specialty pharmaceuticals dispensed in hospitals, outpatient clinics, and physician offices … drug growth differs from that of traditional pharmaceuticals, the CPI-Rx could provide an inaccurate measure of overall …

Persistent link: https://www.econbiz.de/10013388804

Consequences of a Shortage and Rationing : Evidence from a Pediatric Vaccine

Liebman, Eli; Lawler, Emily C.; Dunn, Abe; Ridley, David B. - National Bureau of Economic Research - 2023

Shortages and rationing are common in health care, yet we know little about the consequences. We examine an 18-month shortage of the pediatric Haemophilus Influenzae Type B (Hib) vaccine. Using insurance claims data and variation in shortage exposure across birth cohorts, we find that the...

Persistent link: https://www.econbiz.de/10014322866

Can Operation Warp Speed Serve as a Model for Accelerating Innovations Beyond COVID Vaccines?

D'Souza, Arielle; Hoyt, Kendall; Snyder, Christopher M.; … - National Bureau of Economic Research - 2024

Operation Warp Speed (OWS) was a U.S. government-led program to accelerate the development, production, and administration of COVID-19 vaccines. The program cut the typical ten-year timeline needed to develop a new vaccine down to ten months and began vaccinating vulnerable populations within a...

Persistent link: https://www.econbiz.de/10015056157