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Patent Disclosure and R&D Competition in Pharmaceuticals

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  • Laura Magazzini
  • Fabio Pammolli
  • Massimo Riccaboni
  • Maria Alessandra Rossi

Abstract

The prominent role played by patents within the pharmaceutical domain is unquestionable. In this paper we take an unusual perspective and focus on a relatively neglected implication of patents: the effect of patent-induced information disclosure (of both successes and failures) on the dynamics of R&D and market competition. The study builds upon the combination of two large datasets, linking the information about patents to firm level data on R&D projects and their outcome. Two case studies in the fields of anti-inflammatory compounds and cancer research complement our analysis. We show the important role played by patent disclosure in shaping firms technological trajectories through the possibility of reciprocal monitoring in a context of parallel research efforts, and suggest the importance of enhancing the diffusion of information concerning failures, not only to avoid wasteful duplication of innovative efforts, but also as a tool for the identification of promising research trajectories. This paper is the result of the "R&D competition" research project carried out jointly with Adrian Towse and Martina Garau of the Office of Health Economics, London, UK. A preliminary draft of the paper has been presented to the DRUID Summer Conference 2006 (Copenhagen), and to the 11th ISS Conference (Sophia-Antipolis).

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Bibliographic Info

Paper provided by Department of Computer and Management Sciences, University of Trento, Italy in its series ROCK Working Papers with number 053.

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Length: 30 pages
Date of creation: Jun 2009
Date of revision: 11 Jun 2009
Handle: RePEc:trt:rockwp:053

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References

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  1. Dietmar Harhoff & Francis Narin & F. M. Scherer & Katrin Vopel, 1999. "Citation Frequency And The Value Of Patented Inventions," The Review of Economics and Statistics, MIT Press, vol. 81(3), pages 511-515, August.
  2. Bronwyn H. Hall & Adam B. Jaffe & Manuel Trajtenberg, 2001. "The NBER Patent Citation Data File: Lessons, Insights and Methodological Tools," NBER Working Papers 8498, National Bureau of Economic Research, Inc.
  3. Laura Magazzini & Fabio Pammolli & Massimo Riccaboni & Maria Alessandra Rossi, 2009. "Patent Disclosure and R&D Competition in Pharmaceuticals," DISA Working Papers, Department of Computer and Management Sciences, University of Trento, Italy 0902, Department of Computer and Management Sciences, University of Trento, Italy, revised 11 Jun 2009.
  4. Bessen, James, 2005. "Patents and the diffusion of technical information," Economics Letters, Elsevier, Elsevier, vol. 86(1), pages 121-128, January.
  5. Murray, Fiona & Stern, Scott, 2007. "Do formal intellectual property rights hinder the free flow of scientific knowledge?: An empirical test of the anti-commons hypothesis," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 63(4), pages 648-687, August.
  6. Jean O. Lanjouw & Mark Schankerman, 1999. "The Quality of Ideas: Measuring Innovation with Multiple Indicators," NBER Working Papers 7345, National Bureau of Economic Research, Inc.
  7. Anonymous, 2006. "Public health, Innovation and Intellectual Property Rights: Report of the Commission on Intellectual Property Rights,Innovation and Public Health," Working Papers id:479, eSocialSciences.
  8. Harold M. Groves, Chairman, Universities-National Bureau Committee for Economic Research, 1962. "The Rate and Direction of Inventive Activity: Economic and Social Factors," NBER Books, National Bureau of Economic Research, Inc, number univ62-1.
  9. James J. Anton & Dennis A. Yao, 2003. "Patents, Invalidity, and the Strategic Transmission of Enabling Information," Journal of Economics & Management Strategy, Wiley Blackwell, Wiley Blackwell, vol. 12(2), pages 151-178, 06.
  10. Rebecca Henderson & Iain Cockburn, . "Scale, Scope and Spillovers: The Determinants of Research Productivity in Drug Discovery," Working Papers, Department of Economics, University of Lancaster ec25/94, Department of Economics, University of Lancaster.
  11. Horstmann, Ignatius & MacDonald, Glenn M & Slivinski, Alan, 1985. "Patents as Information Transfer Mechanisms: To Patent or (Maybe) Not to Patent," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 93(5), pages 837-58, October.
  12. Adam B. Jaffe & Manuel Trajtenberg & Michael S. Fogarty, 2000. "The Meaning of Patent Citations: Report on the NBER/Case-Western Reserve Survey of Patentees," NBER Working Papers 7631, National Bureau of Economic Research, Inc.
  13. Machlup, Fritz & Penrose, Edith, 1950. "The Patent Controversy in the Nineteenth Century," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 10(01), pages 1-29, May.
  14. Orsenigo, L. & Pammolli, F. & Riccaboni, Massimo, 2001. "Technological change and network dynamics: Lessons from the pharmaceutical industry," Research Policy, Elsevier, Elsevier, vol. 30(3), pages 485-508, March.
  15. Richard Nelson, 1962. "Introduction to "The Rate and Direction of Inventive Activity: Economic and Social Factors"," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 1-16 National Bureau of Economic Research, Inc.
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Cited by:
  1. Jing-Yuan Chio & Laura Magazzini & Fabio Pammolli & Massimo Riccaboni, 2012. "The Value of Failures in Pharmaceutical R&D," Working Papers 1/2012, IMT Institute for Advanced Studies Lucca, revised Jan 2012.
  2. Laura Magazzini & Fabio Pammolli & Massimo Riccaboni & Maria Alessandra Rossi, 2009. "Patent Disclosure and R&D Competition in Pharmaceuticals," DISA Working Papers, Department of Computer and Management Sciences, University of Trento, Italy 0902, Department of Computer and Management Sciences, University of Trento, Italy, revised 11 Jun 2009.
  3. Laura Magazzini & Fabio Pammolli & Massimo Riccaboni, 2009. "Nuove politiche per l'innovazione nel settore delle scienze della vita," Working Papers 03-2009, Competitività Regole Mecati (CERM).

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