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Innovation in Medicines: Can We Value Progress?

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  • Office of Health Economics

Abstract

Summarised in this publication are the main points and conclusions from a discussion facilitated by OHE that focused on innovation in the pharmaceutical industry. Participants included representatives of the pharmaceutical industry, health technology assessment bodies and academic economists. Addressed in particular were the extent, importance and tractability of any problems arising from innovation path dependency in health technologies. Elements of the policy and research agendas that affect the amount and type of innovation were debated. The group noted that more research is essential both to better understand the nature of innovation and to more fully understand how companies’ R&D investment decisions are affected in practice by pricing and reimbursement decision and health technology assessment.

Suggested Citation

  • Office of Health Economics, 2010. "Innovation in Medicines: Can We Value Progress?," Seminar Briefing 000219, Office of Health Economics.
    • Handle: RePEc:ohe:sembri:000219
    as

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    File URL: https://www.ohe.org/publications/innovation-medicines-can-we-value-progress/attachment-329-innovation_in_medicine_sussex_2010/
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    References listed on IDEAS

    as
    1. Karl Claxton & Simon Walker & Steven Palmer & Mark Sculpher, 2010. "Appropriate Perspectives for Health Care Decisions," Working Papers 054cherp, Centre for Health Economics, University of York.
    2. Magnus Johannesson;Bengt Jonsson;Linus Jonsson;Gisela Kobelt;Niklas Zethraeus, 2009. "Why Should Economic Evaluations of Medical Innovations Have a Societal Perspective?," Briefing 000228, Office of Health Economics.
    3. Toole, Andrew A, 2007. "Does Public Scientific Research Complement Private Investment in Research and Development in the Pharmaceutical Industry?," Journal of Law and Economics, University of Chicago Press, vol. 50(1), pages 81-104, February.
    4. Ward, Michael R & Dranove, David, 1995. "The Vertical Chain of Research and Development in the Pharmaceutical Industry," Economic Inquiry, Western Economic Association International, vol. 33(1), pages 70-87, January.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Innovation in Medicines: Can We Value Progress?;

    JEL classification:

    • I1 - Health, Education, and Welfare - - Health

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