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Estimating the Effects of Regulation on Innovation: An International Comparative Analysis of the Pharmaceutical Industry

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Date
1978
Authors
Grabowski, HG
Vernon, JM
Thomas, LG
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Abstract
INNOVATION in the U.S. ethical drug industry in recent years has been characterized by a number of adverse developments. In particular, there has been a sharp decline in the rate of new product introductions and the incentive for engaging in research and development (R & D) activity has been negatively influenced by rapid increases in the costs and risks of developing new products. While there is little debate about the existence of these adverse trends, there is considerable controversy about the factors producing them. Briefly, we list below five hypotheses that have been discussed as explanations for the declining rate of innovation.`
Type
Journal article
Subject
Pharmaceutical Industry
innovation
regulation
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https://hdl.handle.net/10161/2648
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Scholars@Duke

Grabowski

Henry G. Grabowski

Professor Emeritus of Economics
Professor Grabowski specializes in the investigation of economics in the pharmaceutical industry, government regulation of business, and the economics of innovation. His specific interests within these fields include intellectual property and generic competition issues, the effects of government policy actions, and the costs and returns to pharmaceutical R&D. He has over one hundred peer reviewed articles analyzing the economics of pharmaceuticals and also several books and monograph publica
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