NDLI: Strategic R&D Investment Decisions in the Pharmaceutical Industry

Content Provider	Semantic Scholar
Author	Rao, Anita
Copyright Year	2017
Abstract	Do pharmaceutical firms respond to the actions of their competitors in R&D, and how much? Answering this has implications on the impact of a faster FDA approval process - something pharmaceutical companies are pushing for. While a faster approval process leads to quicker realization of profits and more remaining time on the firm's patent, it also intensifies competition reducing per-firm profits. Which effect dominates depends on the degree of competition. To this end, I estimate a dynamic investment model using Phase-3 data. Solving the new equilibrium, I find an expedited process is beneficial only when competitors are far from launching.
File Format	PDF HTM / HTML
DOI	10.2139/ssrn.2652755
Alternate Webpage(s)	https://conference.nber.org/conf_papers/f83485.pdf
Alternate Webpage(s)	http://web-docs.stern.nyu.edu/marketing/S16Seminar/RaoAbstract.pdf
Alternate Webpage(s)	http://home.uchicago.edu/~anitarao/index_files/Pharmaceutical.pdf
Alternate Webpage(s)	https://doi.org/10.2139/ssrn.2652755
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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