A cost-benefit analysis of the medicines patent pool

Lucy Xiaolu Wang ()
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Lucy Xiaolu Wang: University of Massachusetts Amherst; Max Planck Institute for Innovation & Competition; CCHE Canada

Economics Bulletin, 2023, vol. 43, issue 3, 1298 - 1319

Abstract: Understanding the cost and benefit of global public health institutions is important but challenging. This study provides a cost-benefit analysis of the first public health-oriented patent pooling and licensing institution, the Medicines Patent Pool (MPP), which is devoted to improving generic drug licensing and supply in low- and middle-income countries. A simple structural model of demand and supply is estimated on a dataset that covers 103 LMIC and 29 HIV drugs with data on sales, MPP licenses, patents, country-year level diseases and demographics, and institutional factors during 2007-2017. Counterfactuals are simulated in the absence of the MPP or with further expansions. The estimated benefits to consumers and firms far exceed the operating costs.

Keywords: cost-benefit analysis; Medicines Patent Pool; drug access; low and middle-income countries; structural model (search for similar items in EconPapers)
JEL-codes: I1 O3 (search for similar items in EconPapers)
Date: 2023-09-30
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