The Oxford Handbook of the Economics of the Biopharmaceutical Industry

Patricia Danzon is Celia Moh Professor at The Wharton School, University of Pennsylvania, where she is former Chair of the Health Care Systems Department, and Professor of Insurance and Risk Management. She received a B.A. from Oxford University and a Ph.D. in Economics from the University of Chicago. She is an internationally recognized expert on health economics and policy, and on the biopharmaceutical industry in particular. She is a member of the Institute of Medicine and a Research Associate of the National Bureau of Economic Research. She has served as a consultant to many governmental agencies, NGOs and private corporations in the US and internationally. Sean Nicholson is Associate Professor of Policy Analysis and Management (PAM) at Cornell University and a Faculty Research Fellow at the National Bureau of Economic Research. He received a B.A. from Dartmouth College in 1986 and a Ph.D. in economics from the University of Wisconsin-Madison in 1997. He is a recognized expert in health economics, particularly with regard to the biopharmaceutical industry and the medical workforce.

1. Introduction and overview ; Patricia M. Danzon and Sean Nicholson ; Part 1: Pharmaceutical Innovation ; 2. R&D Costs and Returns to New Drug Development: a Review of the Evidence ; Joseph A. DiMasi and Henry G. Grabowki ; 3. Financing Research and Development ; Sean Nicholson ; 4. Cost of Capital for Pharmaceutical, Biotechnology, and Medical Device Firms ; Scott E. Harrington ; 5. The Regulation of Medical Products ; Anup Malani and Tomas Philipson ; 6. Incentives to Innovate ; Darius Lakdawalla and Neeraj Sood ; 7. Patents and Regulatory Exclusivity ; Rebecca S. Eisenberg ; Part 2: The Market for Pharmaceuticals ; 8. Pricing and Reimbursement in U.S. Pharmaceutical Markets ; Ernst R. Berndt and Joseph P. Newhouse ; 9. Regulation of Price and Reimbursement For Pharmaceuticals ; Patricia M. Danzon ; 10. Drugs and Vaccines for Developing Countries ; Adrian Towse, Eric Keuffel, Hannah E. Kettler, and David B. Ridley ; 11. Insurance and Drug Spending ; Mark V. Pauly ; 12. Consumer Demand and Health Effects of Cost Sharing ; Dana P. Goldman and Geoff F. Joyce ; 13. Measuring Value: Pharmacoeconomics Theory and Practice ; Adrian Towse, Michael Drummond, and Corinna Sorenson ; 14. Price Indexes for Prescription Drugs: A Review of the Issues ; Ana Aizcorbe and Nicole Nestoriak ; 15. Empirical Evidence on the Value of Pharmaceuticals ; Craig Garthwaite and Mark Duggan ; 16. Promotion to Physicians and Consumers ; Don Kenkel and Alan Mathios ; 17. The Economics of Vaccines ; Frank A. Sloan ; 18. Mergers, Acquisitions, and Alliances ; Henry Grabowski and Margaret Kyle