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Is it possible to have cheaper drugs and preserve the incentive to innovate? The benefits of privatizing the drug approval process

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  • Corinne Sauer
  • Robert Sauer

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  • Corinne Sauer & Robert Sauer, 2007. "Is it possible to have cheaper drugs and preserve the incentive to innovate? The benefits of privatizing the drug approval process," The Journal of Technology Transfer, Springer, vol. 32(5), pages 509-524, October.
    • Handle: RePEc:kap:jtecht:v:32:y:2007:i:5:p:509-524
    DOI: 10.1007/s10961-007-9036-0
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    References listed on IDEAS

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    1. DiMasi, Joseph A. & Hansen, Ronald W. & Grabowski, Henry G. & Lasagna, Louis, 1991. "Cost of innovation in the pharmaceutical industry," Journal of Health Economics, Elsevier, vol. 10(2), pages 107-142, July.
    2. Daron Acemoglu & Joshua Linn, 2004. "Market Size in Innovation: Theory and Evidence from the Pharmaceutical Industry," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(3), pages 1049-1090.
    3. Josh Lerner, 2002. "150 Years of Patent Protection," American Economic Review, American Economic Association, vol. 92(2), pages 221-225, May.
    4. Richard C. Levin & Alvin K. Klevorick & Richard R. Nelson & Sidney G. Winter, 1987. "Appropriating the Returns from Industrial Research and Development," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(3, Specia), pages 783-832.
    5. Feick, Jürgen, 2002. "Regulatory Europeanization, national autonomy and regulatory effectiveness: Marketing authorization for pharmaceuticals," MPIfG Discussion Paper 02/6, Max Planck Institute for the Study of Societies.
    6. Frank R. Lichtenberg, 2003. "The benefits to society of new drugs: a survey of the econometric evidence," Proceedings, Federal Reserve Bank of Dallas, issue Sep, pages 43-59.
    7. Grabowski, Henry, 2002. "Patents and New Product Development in the Pharmaceutical and Biotechnology Industries," Working Papers 02-25, Duke University, Department of Economics.
    8. David Reiffen & Michael R. Ward, 2005. "Generic Drug Industry Dynamics," The Review of Economics and Statistics, MIT Press, vol. 87(1), pages 37-49, February.
    9. DiMasi, Joseph A. & Hansen, Ronald W. & Grabowski, Henry G., 2003. "The price of innovation: new estimates of drug development costs," Journal of Health Economics, Elsevier, vol. 22(2), pages 151-185, March.
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    Cited by:

    1. Raymond J. March & Adam G. Martin & Audrey Redford, 2016. "The substance of entrepreneurship and the entrepreneurship of substances," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 5(2), pages 201-220, August.

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    More about this item

    Keywords

    Pharmaceuticals; Drug approval; Privatization; Data exclusivity; Innovation; D42; D73; D92;
    All these keywords.

    JEL classification:

    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing

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