Author : Frank R. Lichtenberg
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Book Synopsis Public Policy and Innovation in the U.S. Pharmaceutical Industry by : Frank R. Lichtenberg
Download or read book Public Policy and Innovation in the U.S. Pharmaceutical Industry written by Frank R. Lichtenberg and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public policy can impact innovation, eitherencouraging or inhibiting the creation of innovative technologies.Howfive public policies have impacted continued innovation within the U.S.pharmaceutical industry is examined.At issue are the 1962 Kefauver-HarrisAmendment; the 1992 Prescription Drug User Fee Act; Medicare; Medicaid; and the1984 Hatch-Waxman Act. The policies set forth in each act are described, as are their effects oninnovation in the industry.Using a theoretical approach, the impactthat the speed and the ease of pharmaceutical imitation has upon pharmaceuticalinnovation is analyzed, with the belief that it impedes the rapidity ofinnovation within the industry.This theory is assessed, noting that theresearch on the impact of rapid imitation is mixed. The predicted impact of President Clinton's proposed 1993 health care reformpolicies is evaluated by studying the impact of the policies upon the marketvalue of pharmaceutical corporations and upon R&D investment. The findingsindicate that the proposed health care reform policies of the ClintonAdministration threatened the pharmaceutical industry, resulting in a reductionin the growth rate of R&D expenditure. (AKP).