Licensing Life-Saving Drugs for Developing Countries: Evidence from the Medicines Patent Pool

Alberto Galasso and Mark Schankerman
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Alberto Galasso: University of Toronto, NBER, and CEPR
Mark Schankerman: London School of Economics and CEPR

The Review of Economics and Statistics, 2024, vol. 106, issue 6, 1529-1541

Abstract: We study the effects of the Medicines Patent Pool (MPP)—an institution that pools patents across geographical markets—on the licensing and adoption of life-saving drugs in low- and middle-income countries. We show the presence of an immediate and large increase in licensing when a patent is included in the MPP. We also show evidence that the pool increases actual entry and volume of sales, but these impacts are much smaller than on licensing, which is due to the geographic bundling of licenses. The paper highlights the potential of pools in promoting diffusion of biomedical innovation in developing countries.

Date: 2024
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