Is There a Productivity Crisis in Pharmaceutical R&D?

Massimo Riccaboni ()

Seminar Briefing from Office of Health Economics

Abstract: This Seminar Briefing recounts the key points made by Prof Riccaboni, from the University of Trento, at a recent OHE Lunchtime Seminar. It focuses primarily on the reasons for a decline since 2000 in the average number of new drugs launched per year by the pharmaceutical industry. Factors identified as important include a trend towards targeting more complex and difficult diseases, the need to adapt to dramatic changes in scientific knowledge and in R&D approaches, and substantial changes in both the regulatory and marketing climates. In addition to describing overall trends, Prof Riccaboni also compares the R&D performance of companies based in the US and Europe, and a set of “global” companies. He finds that the global companies rank highest on R&D productivity and equal US companies in the market value of their new drugs.

Keywords: Is; There; a; Productivity; Crisis; in; Pharmaceutical; R&D? (search for similar items in EconPapers)
JEL-codes: I1 (search for similar items in EconPapers)
Date: 2012-06-01
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Persistent link: https://EconPapers.repec.org/RePEc:ohe:sembri:000146

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