Market size and innovation: Effects of Medicare Part D on pharmaceutical research and development

• 成果类型: Article
• 署名作者: Blume-Kohout, Margaret E.; Sood, Neeraj
• 署名单位: University of New Mexico; Robert Wood Johnson Foundation (RWJF); University of New Mexico; University of Southern California; University of Southern California
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/j.jpubeco.2012.10.003
• 发表日期: 2013
• 页码: 327-336
• 关键词: Research and development; INNOVATION; Pharmaceutical industry; Medicare Part D

摘要

Recent evidence suggests that Medicare Part D increased prescription drug use among seniors, and increased pharmaceutical firms' revenues from sales. Previous studies also indicate that increases in market size induce pharmaceutical innovation. This paper assesses the impact of the Medicare Part D legislation on pharmaceutical research and development (R&D), using time-series data on the number of drugs entering preclinical and clinical development by therapeutic class and phase. We find that the passage and implementation of Medicare Part D is associated with significant increases in pharmaceutical R&D for therapeutic classes with higher Medicare market share. (C) 2012 Elsevier B.V. All rights reserved.