In this paper, we propose combining data from both surrogate and true outcomes to improve decision-making within a late-phase clinical trial.…Read More
Adaptive Clinical Trial Designs With Surrogates: When Should We Bother?
pharmaceutical industry
Valuing Novelty in Consumer Demand for Pharmaceuticals
A fundamental question remains unanswered which I seek to address in this research: What is the actual value of novelty in pharmaceuticals to consumers?…Read More
Understanding the Relationship between Divestitures and Innovation
Few studies have examined the impact of divestitures on the innovation performance of firms. In particular, little attention has been paid into how the divestiture of firms’ non-core businesses could influence the innovation outcomes of their core businesses. …Read More
Back to the familiar? How attention and rare experiences overcome local search in external technology sourcing.
In this paper, we develop and test a theoretical framework that considers how established firms forming partnerships with startups may be subject to spatial and temporal myopia and how these tendencies are moderated by the established firms’ histories of experiencing essential failures and successes in solving R&D problems. …Read More
The Trends of Drug Pricing After Entries of Generic Drugs
In pharmaceutical markets, there are evidences that after branded drugs lose patent exclusivity, the entries of first generic drug do not significantly bring the drug prices down.…Read More
Physician-Industry Interactions: Persuasion and Welfare
In markets where consumers seek expert advice regarding purchases, firms seek to influence experts, raising concerns about biased advice. We combine a model of supply and demand with a local instrumental variables strategy based on regional spillovers from academic medical center conflict-of-interest policies. …Read More
Competition, Technology Licensing-in, and Innovation
Although the relationship between competition and firm innovation has long been of scholarly interest, prior research has predominantly considered changes in internal research and development (R&D) as a strategic response to competitors’ actions.…Read More
Artificial Intelligence and Drug Innovation: A Large Scale Examination of the Pharmaceutical Industry
Artificial Intelligence (AI) is playing an increasingly important role in the global economy and has transformed many business practices. As AI has advanced beyond the conventionally narrow domains, it is starting to exhibit characteristics of “general purpose technologies (GPT)” that are expected to change the nature of more business innovations and reduce their associated financial costs and time.…Read More
Risk Sharing Agreements for New Medical Treatments
The clinical-trial data used to make approval decisions for medical therapies are collected from a relatively small patient sub-populations. Given small sample sizes, trial data may suggest that treatments are medically or economically nonviable, even though they ultimately may be, or vice versa. …Read More
FDA Regulation and Innovation in the Pharmaceutical Industry
Standard economic theory recognizes a trade-off inherent in intellectual property protection between increased incentives for firms to innovate due to potential monopoly rights and the deadweight loss from those rights.…Read More
Generic Competition and Strategic Delegation: An Empirical Study in Drug Patent Licensing
We plan to study the role of strategic delegation in the patent licensing process. In particular, we will examine the contractual terms of a large database of pharmaceutical drug license arrangements (royalty rates, contingencies, royalty bases, etc…), as well as which contractual terms were redacted versus non-redacted.…Read More
Rethinking Frameworks in the Life Sciences: Perspectives from Real Estate and Precision Medicine
Joel Marcus, Executive Chairman and Founder of Alexandria Real Estate Equities, and Liz O’Day, CEO and Founder of Olaris Therapeutics, discuss how collaboration across stakeholders can enhance innovation in the life sciences.…Read More
Imprinting and Early Exposure to Developed International Markets: The Case of the New Multinationals
Previous research has analyzed the imprinting effect associated with the firm’s international expansion without considering the full range of differences between home and host countries. These differences are important because, depending on the development gap, and the direction of the difference, learning opportunities and the possibility of upgrading firm’s capabilities will be vastly different. …Read More
The Role of Pharmacy Benefit Managers in Driving Pharmaceutical Prices and Utilization
The business model of Pharmacy Benefit Managers (PBMs) has evolved dramatically over the last few decades from basic insurance claims processors to becoming one of the key drivers of pharmaceutical pricing and utilization in the U.S. PBMs are the “middlemen” between insurers and drug manufacturers.…Read More
Biomedical Innovation Takes a Lot of Cooperation – and a Little Serendipity
The most fundamental discoveries often occur when an experiment doesn’t turn out as planned. Authors Lawton R. Burns, Mark Pauly, and Philip Rea discuss the element of serendipity in the life sciences.…Read More
Standard vs. Partnership-Embedded Licensing: Attention and the Relationship Between Licensing and Product Innovations
This paper examines the relationship between the licensing of knowledge and the creation of product innovations. We consider that firms organize licensing activities in different ways and that licensees are heterogeneous with respect to the attention available to apply and transform in-licensed knowledge to create new product innovations. …Read More
From Invention to Innovation: A Multi-Study Investigation of Firm Strategy and Outcomes in Clinical Trials
The translation of invention to innovation is a topic that has received significant research attention in recent times. Scholars have recognized that our understanding of the factors that shape whether and when innovative technologies arise and transform industries cannot be complete without comprehending how scientific or technological discovery evolves into commercial adoption. …Read More
Unraveling the Forces that Drive Industry Evolution
Wharton emeritus professor Sid Winter discusses how innovative activity affects industry evolution, as described in his new book “Innovation and the Evolution of Industries.”…Read More
Building a Connected Strategy: From Customer Experience to Technology Platforms
At the Mack Institute’s Fall Conference 2016, leaders from across industries discussed their companies’ pursuit of “connected strategy” defined by continuous customer engagement.…Read More
Innovation and the Evolution of Industries: History-Friendly Models
The disruptive impacts of technological innovation on established industrial structures has been one of the distinguishing features of modern capitalism. In this book, four leading figures in the field of Schumpeterian and evolutionary economic theory draw on decades of research to offer a new, ‘history-friendly’ perspective on the process of creative destruction.…Read More