A Breath of Fresh Air? Firm Type, Scale, Scope, and Selection Effects in Drug Development
Abstract
This paper compares the innovation performance of established pharmaceutical firms and biotech companies, controlling for differences in the scale and scope of research. We develop a structural model to analyze more than 3,000 drug research and development projects advanced to preclinical and clinical trials in the United States between 1980 and 1994. Key to our approach is careful attention to the issue of selection. Firms choose which...
Paper Details
Title
A Breath of Fresh Air? Firm Type, Scale, Scope, and Selection Effects in Drug Development
Published Date
Oct 1, 2009
Journal
Volume
55
Issue
10
Pages
1638 - 1653
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