The Societal Value of Pharmaceutical Innovation

Vijay Kumar () and R. P. Sundarraj
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Vijay Kumar: PES University
R. P. Sundarraj: Indian Institute of Technology Madras

Chapter Chapter 4 in Global Innovation and Economic Value, 2018, pp 147-187 from Springer

Abstract: Abstract Drug innovation has had a profound effect on people, resulting in extended longevity and better quality of life, though development of new drugs has become expensive, with estimates ranging from $1 billion to $4 billion to $11 billion. Given such staggering costs, the holistic value created by the pharmaceutical sector has become a matter of intense debate.

Keywords: Pharmaceutical Innovation; IS Innovation; Pharma Companies; Medical Innovation; Patent Expires (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1007/978-81-322-3760-0_4

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