Sources of Biopharmaceutical Innovation: An Assessment of Intellectual Property

Economic Research Working Paper No. 24

Author(s): Michael S. Kinch, Julio Raffo | Publication year: 2015

An analysis of new, FDA-approved molecular entities reveals dynamism in terms of new innovation. An assessment of the first patent for each drug reveals that the pharmaceutical industry, particularly large, established companies in North America, tend to dominate the field. Whereas inventors continue to found biotechnology companies at a steady rate, recent trends suggest these inventors more often come from the private sector.

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