Browsing by Author "Grabowski, Henry"
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Item Open Access A New Look at the Returns and Risks to Pharmaceutical R&D(1990-07) Grabowski, Henry; John VernonThis study investigates the returns to R&D for 100 new drugs introduced into the United States during the decade of the 1970s. In contrast to prior studies, it incorporates several significant structural changes that have occurred in the pharmaceutical industry during the 1980s. These include higher real drug prices and a greater degree of generic competition. A major finding is that the return on R&D for the average new drug is approximately equal to the 9 percent industry cost of capital. However, the performance of new drugs introduced during the latter half of the 1970s was markedly better than that of early 1970s introductions. This latter finding is consistent with the more rapid rate of industry growth in real R&D expenditures. The study also finds that the variation in returns is highly skewed, with only the top 30 drugs covering mean R&D costs on a fully allocated basis. Finally, it is shown that real drug price increases in the 1980s were necessary for the average new drug introduction to recover its R&D costs.Item Open Access Biosimilar competition: lessons from Europe(Nature Reviews Drug Discovery, 2014-01-21) Grabowski, Henry; Guha, Rahul; Salgado, MariaItem Open Access Data Exclusivity for Biologics(Nature Reviews Drug Discovery, 2011-01) Grabowski, Henry; Long, Genia; Mortimer, RichardItem Open Access Determinants and Distributional Aspects of Enrollment in U.S. Higher Education(Journal of Human Resources, 1972-12) Corazzani, A; Dugan, D; Grabowski, HenryItem Open Access Does generic entry always increase consumer welfare?(Food Drug Law J, 2012) Grabowski, Henry; Lewis, Tracy; Guha, Rahul; Ivanova, Zoya; Salgado, Maria; Woodhouse, SallyThis article examines how the nature of competition between brands in a therapeutic category changes after generic entry and provide a framework for analyzing the effect of generic entry on consumer welfare that takes into account the generic free riding problem. It demonstrates that changes in competition along dimensions other than retail price--such as competition in research and development efforts and in promotional activities--may, in certain situations, result in generic entry having an overall negative impact on consumer welfare.Item Open Access Effective Patent Life in Pharmaceuticals(International Journal of Technology Management, 2000) Grabowski, Henry; John VernonItem Open Access Generic Competition in the U.S. Pharmaceutical Industry(International Journal of the Economics of Business, 2006-02) Saha, Atanu; Grabowski, Henry; Birnbaum, Howard; Greenberg, Paul; Bizan, OdedItem Open Access Implementation of the Biosimilar Pathway: Economic and Policy Issues(Seton Hall Law Review, 2011) Grabowski, Henry; Long, Genia; Mortimer, RichardItem Open Access Innovation and Structural Change in Pharmaceuticals and Biotechnology(Industrial and Corporate Change, 1994) Grabowski, Henry; John VernonItem Open Access Managerial and Stockholder Welfare Models of Firm Expenditures(Review of Economics and Statistics, 1972-02) Grabowski, Henry; Dennis MuellerItem Open Access Pharmacy Benefit Management, Cost-Effectiveness Analysis and Drug Formulary Decisions(Social Science & Medicine, 1997-08) Grabowski, Henry; Mullins, C DanielItem Open Access Price and Availability Tradeoffs of Automobile Insurance Regulation(Journal of Risk and Insurance, 1989-06) Grabowski, Henry; Viscusi, W Kip; Evans, William NItem Open Access R&d Costs, Innovative Output and Firm Size in the Pharmaceutical Industry(International Journal of the Economics of Business, 1995-01-01) DiMasi, Joseph A; Vernon, John; Grabowski, HenryThis study examines the relationships between firm size, R&D costs and output in the pharmaceutical industry. Project-level data from a survey of 12 US-owned pharmaceutical firms on drug development costs, development phase lengths and failure rates are used to determine estimates of the R&D cost of new drug development by firm size. Firms in the sample are grouped into three size categories, according to their pharmaceutical sales at the beginning of the study period. The D&D cost per new drug approved in the US is shown to decrease with firm size, while sales per new drug approved are shown to increase markedly with firm size. Sales distributions are highly skewed and suggest that firms need to search for blockbuster drugs with above-average returns. The results are consistent with substantial economies of scale in pharmaceutical R&D, particularly at the discovery and preclinical development phases. © 1995, Taylor & Francis Group, LLC. All rights reserved.Item Open Access Returns on R&D for 1990s New Drug Introductions(PharmacoEconomics, 2002) Grabowski, Henry; Vernon, John; DiMasi, JoeItem Open Access The Determinants of Pharmaceutical Research and Development Expenditures(Journal of Evolutionary Economics, 2000) Grabowski, Henry; John VernonItem Open Access Updated trends in US brand-name and generic drug competition(Journal of Medical Economics, 2016-09) Grabowski, Henry; Long, Genia; Mortimer, Richard; Boyo, Ani