Is Europe a Laggard in Pharmaceuticals? R&D Joint Ventures, Patent Quality and R&D Productivity

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Messinis, George ORCID: 0000-0002-2484-9522 (2005) Is Europe a Laggard in Pharmaceuticals? R&D Joint Ventures, Patent Quality and R&D Productivity. Working Paper. Victoria University, Melbourne, Australia.

Abstract

Has the USA overtaken Europe as the powerhouse of new medicines? If so, is this attributable to a flight of business expenditure in R&D to the USA? This paper answers these questions using a methodology that focuses on R&D productivity and patent quality as key indicators of innovation, accounts for R&D price inflation, and examines the role of both 'performed' R&D and 'extra-mural' R&D. The study provides three new insights: (a) the USA has outperformed Europe in R&D productivity but this is due to Europe's superior performance in sales and patent quality; (b) government expenditure on R&D and extra-mural R&D stimulate international patent collaboration, and (c) the latter is a crucial determinant of patent quality.

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Item type Monograph (Working Paper)
URI https://vuir.vu.edu.au/id/eprint/106
DOI No. 30
Subjects Historical > RFCD Classification > 320000 Medical and Health Sciences
Historical > FOR Classification > 1115 Pharmacology and Pharmaceutical Sciences
Historical > Faculty/School/Research Centre/Department > Centre for Strategic Economic Studies (CSES)
Keywords Europe; pharmaceuticals; joint ventures; patent quality; productivity; pharmaceutical industry
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