Two-stage public-private partnership proposal for R&D on neglected diseases
AbstractWe propose a 2-stage procurement model of public-private partnership to provide better incentives for R&D on neglected diseases. The model combines advance market commitment, subsidized clinical trials, and rewards based on therapeutical contributions of new drugs through a prize screening mechanism. The model is primarily intended to facilitate small firms’ R&D by providing cash flow, rewarding quality of new drugs, and sharing risks and costs of new drugs development, while limiting moral hazards. The model’s advantages include reduction of overpayments, better disclosure of information, provision of production licences, and direct targeting of better quality drugs.
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Bibliographic InfoPaper provided by Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research in its series Working Papers with number 36.
Date of creation: Oct 2010
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neglected diseases; prize screening; pharmaceutical R&D;
Find related papers by JEL classification:
- I12 - Health, Education, and Welfare - - Health - - - Health Production
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-11-06 (All new papers)
- NEP-CTA-2010-11-06 (Contract Theory & Applications)
- NEP-INO-2010-11-06 (Innovation)
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