Innovation and Discovery in the Ethical Pharmaceutical Industry

Edwin Mansfield, John Rapoport, Jerome Schnee, Samuel Wagner and Michael Hamburger
Additional contact information
Edwin Mansfield: University of Pennsylvania
John Rapoport: Mount Holyoke College
Jerome Schnee: Columbia University
Samuel Wagner: Temple University
Michael Hamburger: Federal Reserve Bank of New York

Chapter 8 in Research and Innovation in the Modern Corporation, 1971, pp 157-185 from Palgrave Macmillan

Abstract: Abstract In this chapter, we focus attention on the process of innovation and discovery in one of the most dynamic and research-intensive industries in the American economy—the ethical drug industry. A pharmaceutical innovation is the first application of a pharmaceutical discovery. The distinction between an innovation and a discovery is important in the ethical pharmaceutical industry because the medical benefits of a pharmaceutical discovery cannot be fully realized until the drug is actually produced and distributed to the medical profession.1 Fortunately, it is not too difficult to identify the innovator—the firm that was first to introduce a certain new drug to the market. What is more difficult is to trace an innovation back to its sources.

Keywords: Small Firm; Large Firm; Product Category; Foreign Firm; Sales Level (search for similar items in EconPapers)
Date: 1971
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DOI: 10.1007/978-1-349-01639-6_8

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