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Unpacking the effects of adverse regulatory events: Evidence from pharmaceutical relabeling
(Research Policy, 2020-09-12)
We provide causal evidence that regulation induced product shocks significantly impact aggregate demand and firm performance in pharmaceutical markets. Event study results suggest an average loss between $569 million and ...
Generic competition and the incentives for early-stage pharmaceutical innovation
(Elsevier, 2022-12-01)
What impact has rising generic competition had on the nature and direction of pharmaceutical innovation? We find broad-based, strong evidence that pharmaceutical companies have diverted their new drug development efforts ...