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OverviewThe biopharmaceutical industry has been a major driver of technological change in health care, producing unprecedented benefits for patients, cost challenges for payers, and profits for shareholders. As consumers and companies benefit from access to new drugs, policymakers around the globe seek mechanisms to control prices and expenditures commensurate with value. More recently the 1990s productivity boom of new products has turned into a productivity bust, with fewer and more modest innovations, and flat or declining revenues for innovative firms as generics replace their former blockbuster products. This timely volume examines the economics of the biopharmaceutical industry, with eighteen chapters by leading academic health economists. Part one examines the economics of biopharmaceutical innovation including determinants of the costs and returns to new drug development; how capital markets finance R&D and how costs of financing the biopharmaceutical industry compare to financing costs for other industries; the effects of safety and efficacy regulation by the Food and Drug Administration (FDA) and of price and reimbursement regulation on incentives for innovation; and the role of patents and regulatory exclusivities. Part two examines the market for biopharmaceuticals with chapters on prices and reimbursement in the US, the EU, and other industrialized countries, and in developing countries. It looks at the optimal design of insurance for drugs and the effects of cost sharing on spending and on health outcomes; how to measure the value of pharmaceuticals using pharmacoeconomics, including theory, practical challenges, and policy issues; how to measure pharmaceutical price growth over time and recent evidence; empirical evidence on the value of pharmaceuticals in terms of health outcomes; promotion of pharmaceuticals to physicians and consumers; the economics of vaccines; and a review of the evidence on effects of mergers, acquisitions and alliances. Each chapter summarizes the latest insights from theory and recent empirical evidence, and outlines important unanswered questions and areas for future research. Based on solid economics, it is nevertheless written in terms accessible to the general reader. The book is thus recommended reading for academic economists and non-economists, and for those in industry and policy who wish to understand the economics of this fascinating industry. Full Product DetailsAuthor: Patricia M. Danzon (Professor, Professor, University of Pennsylvania) , Sean Nicholson (Professor, Professor, Cornell University)Publisher: Oxford University Press Inc Imprint: Oxford University Press Inc Dimensions: Width: 24.90cm , Height: 2.80cm , Length: 17.30cm Weight: 1.295kg ISBN: 9780199742998ISBN 10: 0199742995 Pages: 624 Publication Date: 31 May 2012 Audience: College/higher education , Professional and scholarly , Postgraduate, Research & Scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: To order  Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us. Table of Contents1. 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. Grabowski 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 KyleReviewsI was certainly impressed by the breadth of the book... the various authors do a good job in developing the concepts in a readily understood fashion. -- John R. Cook, Journal of Biopharmaceutical Statistics """I was certainly impressed by the breadth of the book... the various authors do a good job in developing the concepts in a readily understood fashion."" -- John R. Cook, Journal of Biopharmaceutical Statistics" I was certainly impressed by the breadth of the book... the various authors do a good job in developing the concepts in a readily understood fashion. * John R. Cook, Journal of Biopharmaceutical Statistics * <br> I was certainly impressed by the breadth of the book... the various authors do a good job in developing the concepts in a readily understood fashion. <br>-- John R. Cook, Journal of Biopharmaceutical Statistics<br><p><br> I was certainly impressed by the breadth of the book... the various authors do a good job in developing the concepts in a readily understood fashion. -- John R. Cook, Journal of Biopharmaceutical Statistics Author InformationPatricia 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 U.S. 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. Tab Content 6Author Website:Countries AvailableAll regions |
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