Patents and the Global Diffusion of New Drugs

• 成果类型: Article
• 署名作者: Cockburn, Iain M.; Lanjouw, Jean O.; Schankerman, Mark
• 署名单位: Boston University; National Bureau of Economic Research; University of California System; University of California Berkeley; University of London; London School Economics & Political Science
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20141482
• 发表日期: 2016
• 页码: 136-164
• 关键词: pharmaceutical-industry; intellectual property; empirical-evidence; market-size; INNOVATION; PROTECTION; RIGHTS

摘要

Analysis of the timing of launches of 642 new drugs in 76 countries during 1983-2002 shows that patent and price regulation regimes strongly affect how quickly new drugs become commercially available in different countries. Price regulation delays launch, while longer and more extensive patent rights accelerate it. Health policy institutions and economic and demographic factors that make markets more profitable also speed up diffusion. The estimated effects are generally robust to controlling for endogeneity of policy regimes with country fixed effects and instrumental variables. The results highlight the important role of policy choices in driving the diffusion of new innovations.