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R&D Costs and Productivity in Biopharmaceuticals

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  • Scherer, Frederic Michael

Abstract

This article characterizes the activities required to launch a new pharmaceutical molecule into the market, summarizes studies that have attempted to pinpoint the research and development costs incurred per approved new molecule, and analyzes the various critiques levied against published R&D cost estimates. It finds that by any reckoning, R&D costs per approved molecule have risen sharply over time, most likely at a rate of approximately 7 percent per year after stripping out the effects of general economic inflation.

Suggested Citation

  • Scherer, Frederic Michael, 2011. "R&D Costs and Productivity in Biopharmaceuticals," Scholarly Articles 5688848, Harvard Kennedy School of Government.
    • Handle: RePEc:hrv:hksfac:5688848
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    File URL: http://dash.harvard.edu/bitstream/handle/1/5688848/RWP11-046_Scherer.pdf
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    Cited by:

    1. Shilpi Tyagi & D. K. Nauriyal & Rachita Gulati, 2018. "Firm level R&D intensity: evidence from Indian drugs and pharmaceutical industry," Review of Managerial Science, Springer, vol. 12(1), pages 167-202, January.
    2. Billette de Villemeur, Etienne & Versaevel, Bruno, 2019. "One lab, two firms, many possibilities: On R&D outsourcing in the biopharmaceutical industry," Journal of Health Economics, Elsevier, vol. 65(C), pages 260-283.
    3. Stefano Capri, 2020. "High prices of new drugs: we are ready to do whatever it takes," LIUC Papers in Economics 2020-8, Cattaneo University (LIUC).
    4. Hyunju Rachel Kim, 2014. "Formulation of a Success Model in Pharmaceutical R&D," SAGE Open, , vol. 4(1), pages 21582440145, March.
    5. Tobias Basse & Christoph Schwarzbach & J.-Matthias Schulenburg, 2023. "Dividend policy issues in the European pharmaceutical industry: new empirical evidence," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 24(5), pages 803-816, July.

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