Patent Disclosure and R&D Competition in Pharmaceuticals

Magazzini, Laura and Pammolli, Fabio and Riccaboni, Massimo and Rossi, Maria Alessandra (2009) Patent Disclosure and R&D Competition in Pharmaceuticals. UNSPECIFIED.

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    The prominent role played by patents within the pharmaceutical domain is unquestionable. In this paper we take an unusual perspective and focus on a relatively neglected implication of patents: the effect of patent-induced information disclosure (of both successes and failures) on the dynamics of R&D and market competition. The study builds upon the combination of two large datasets, linking the information about patents to firm level data on R&D projects and their outcome. Two case studies in the fields of anti-inflammatory compounds and cancer research complement our analysis. We show the important role played by patent disclosure in shaping firms technological trajectories through the possibility of reciprocal monitoring in a context of parallel research efforts, and suggest the importance of enhancing the diffusion of information concerning failures, not only to avoid wasteful duplication of innovative efforts, but also as a tool for the identification of promising research trajectories. This paper is the result of the "R&D competition" research project carried out jointly with Adrian Towse and Martina Garau of the Office of Health Economics, London, UK. A preliminary draft of the paper has been presented to the DRUID Summer Conference 2006 (Copenhagen), and to the 11th ISS Conference (Sophia-Antipolis).

    Item Type: Departmental Technical Report
    Department or Research center: Computer and management sciences
    Subjects: UNSPECIFIED
    Uncontrolled Keywords: patent disclosure, innovation, r&d competition
    Additional Information: JEL codes: D23, D83, O34
    Report Number: 2009/2
    Repository staff approval on: 16 Jun 2009

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