期刊
JOURNAL OF PUBLIC ECONOMICS
卷 97, 期 -, 页码 327-336出版社
ELSEVIER SCIENCE SA
DOI: 10.1016/j.jpubeco.2012.10.003
关键词
Research and development; Innovation; Pharmaceutical industry; Medicare Part D
类别
资金
- NIA NIH HHS [P01 AG033559, P30 AG024968, P30 AG043073] Funding Source: Medline
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.
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