In the pharmaceutical industry, firms frequently engage in licensing agreements to overcome innovation challenges and keep up with the pace of developing new drugs. Licensing helps firms jointly develop new drugs and acquire external knowledge, which helps improve their internal drug development...

While most economists believe that public scientific research fuels industry innovation and economic growth, systematic evidence supporting this relationship is surprisingly limited. In a recent study, Acemoglu and Linn (2004) identified market size as a significant driver of drug innovation in...

While most economists believe that public scientific research fuels industry innovation and economic growth, systematic evidence supporting this relationship is surprisingly limited. In a recent study, Acemoglu and Linn (2004) identified market size as a significant driver of drug innovation in...

This paper analyses a large database on inter-firm R&D cooperation formed in the pharmaceutical biotechnology industry during the period 1985 - 1998. The results indicate that network size largely grows, whereas the density of the network declines during the periods. In the network analysis that...

Public-private partnerships offer a promising alternative paradigm for pharmaceutical innovation in complex disease areas where there are both strong commercial interests and significant public need. They have the potential to reduce the tremendous waste associated with duplicative unsuccessful...