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Longer Patents for Increased Generic Competition:The Waxman-Hatch Act after One Decade


  • Grabowski, Henry G.
  • Vernon, John


The 1984 Drug Price Competition and Patent Term Restoration Act (the Waxman-Hatch Act) is unique in many ways. This Law was the first change in U.S. patent terms since 1861. It simultaneously lowered the barrier to entry for generic drug firms and increased patent terms for new drugs delayed by FDA regulation. In this paper, we analyze the Act has performed in practice, determining whether the Law has resulted in cheaper and better drugs.

Suggested Citation

  • Grabowski, Henry G. & Vernon, John, 1995. "Longer Patents for Increased Generic Competition:The Waxman-Hatch Act after One Decade," Working Papers 95-11, Duke University, Department of Economics.
  • Handle: RePEc:duk:dukeec:95-11

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    References listed on IDEAS

    1. Peter A. Diamond, 1974. "Single Activity Accidents," The Journal of Legal Studies, University of Chicago Press, vol. 3(1), pages 107-164, January.
    2. Danzon, Patricia M., 1985. "Liability and liability insurance for medical malpractice," Journal of Health Economics, Elsevier, vol. 4(4), pages 309-331, December.
    3. Sloan, Frank A. & Hassan, Mahmud, 1990. "Equity and accuracy in medical malpractice insurance pricing," Journal of Health Economics, Elsevier, vol. 9(3), pages 289-319, November.
    4. Craswell, Richard & Calfee, John E, 1986. "Deterrence and Uncertain Legal Standards," Journal of Law, Economics, and Organization, Oxford University Press, vol. 2(2), pages 279-303, Fall.
    5. Michael Spence, 1977. "Consumer Misperceptions, Product Failure and Producer Liability," Review of Economic Studies, Oxford University Press, vol. 44(3), pages 561-572.
    6. repec:aph:ajpbhl:1990:80:3:313-315_1 is not listed on IDEAS
    7. Kahan, Marcel, 1989. "Causation and Incentives to Take Care under the Negligence Rule," The Journal of Legal Studies, University of Chicago Press, vol. 18(2), pages 427-447, June.
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    JEL classification:

    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital


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