Para acceder a los documentos con el texto completo, por favor, siga el siguiente enlace:

R&D in the pharmaceutical industry: A world of small innovations
Domínguez, Beatriz; Ganuza, Juan José; Llobet, Gerard
Universitat Pompeu Fabra. Departament d'Economia i Empresa
It is commonly argued that in recent years pharmaceutical companies have directed theirR&D towards small improvements of existing compounds instead of more risky drastic innovations. In this paper we show that the proliferation of these small innovations is likely to be linked to the lack of market sensitivity of a part of the demand to changes in prices. Compared to their social contribution, small innovations are relatively more profitable than large ones because they are targeted to the smaller but more inelastic part of the demand. We also study the effect of regulatory instruments such as price ceilings, copayments and reference prices and extend the analysis to competition in research.
Business Economics and Industrial Organization
Labour, Public, Development and Health Economics
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
Documento de trabajo

Mostrar el registro completo del ítem