Returns to R&D on new drug introductions in the 1980s

Volume: 13, Issue: 4, Pages: 383 - 406
Published: Jan 1, 1994
Abstract
null null This study finds that the mean IRR for 1980–1984 U.S. new drug introductions is 11.1%, and the mean NPV is 22 million (1990 dollars). The distribution of returns is highly skewed. The results are robust to plausible changes in the baseline assumptions. Our work is also compared with a 1993 study by the OTA. Despite some important differences in assumptions, both studies imply that returns for the average NCE are within one percentage...
Paper Details
Title
Returns to R&D on new drug introductions in the 1980s
Published Date
Jan 1, 1994
Volume
13
Issue
4
Pages
383 - 406
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