We review the recent literature on financing biomedical innovation, with a specific focus on
the drug development process and how it may be enhanced to improve outcomes. We begin …

Coronavirus disease 2019 (COVID-19) caused by the severe acute respiratory syndrome
coronavirus 2 (SARS-CoV-2) is a highly contagious infection that may break the healthcare …

This paper studies how competitive dynamics shape innovative firms' voluntary disclosure of
product quality information. Our empirical context is the pharmaceutical industry, where firms …

Common wisdom suggests that high-risk strategies will be associated with high expected
returns and vice versa. Focusing on the effect of new product development on firm …

Markush structures are molecular skeletons containing not only specific atoms but also
placeholders to represent broad sets of chemical (sub) structures. As genus claims, they …

International procurement institutions have played an important role in drug supply. This
paper studies price, delivery, and procurement lead time of drug supply for major infectious …

This chapter provides an overview of different innovation policies and their performance in
the pharmaceutical sector. I emphasize three points. First, both push and pull policies have …

Due to the lags in commercialization, the effective life of a patent is generally less than its
statutory term. We introduce commercialization lags into the Schumpeterian growth model …

Economists' standard notion of intellectual property rights considers a single patent per
product, with a clearly defined scope, certain enforcement, and a fixed term of monopoly …

This paper studies the impact of the first joint licensing platform for patented drugs, the
Medicines Patent Pool, on global drug diffusion and innovation. The pool allows generic …