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Determinants of value in pharmaceuti...

Ramanathan, Kannan.

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Determinants of value in pharmaceutical innovation: A property rights approach.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Determinants of value in pharmaceutical innovation: A property rights approach./
Author:	Ramanathan, Kannan.
Description:	139 p.
Notes:	Source: Dissertation Abstracts International, Volume: 60-09, Section: A, page: 3437.
Contained By:	Dissertation Abstracts International60-09A.
Subject:	Business Administration, Management. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9944974
ISBN:	0599468467

Determinants of value in pharmaceutical innovation: A property rights approach.
Ramanathan, Kannan.

Determinants of value in pharmaceutical innovation: A property rights approach. - 139 p.

Source: Dissertation Abstracts International, Volume: 60-09, Section: A, page: 3437.

Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1999.

In this research, I explore the impact of patent issue and FDA approval of a pharmaceutical drug on the stock price of the innovating firm.

ISBN: 0599468467Subjects--Topical Terms:

626628
Business Administration, Management.

Determinants of value in pharmaceutical innovation: A property rights approach.
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035 $a (UnM)AAI9944974
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100 1 $a Ramanathan, Kannan. $3 1949578
245 1 0 $a Determinants of value in pharmaceutical innovation: A property rights approach.
300 $a 139 p.
500 $a Source: Dissertation Abstracts International, Volume: 60-09, Section: A, page: 3437.
500 $a Co-Chairs: Howard Thomas; Anju Seth.
502 $a Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1999.
520 $a In this research, I explore the impact of patent issue and FDA approval of a pharmaceutical drug on the stock price of the innovating firm.
520 $a In pharmaceutical innovation, or indeed in any innovation, a patent represents merely the potential for a protected income stream. In the absence of a drug (or other product based on the patent) being approved for use, a patent alone will not generate an income stream. On the other hand, other manufacturers may replicate an approved drug not protected by a patent, thereby diminishing the rents for the innovating firm. Thus, both events---patent and FDA approval---can have an impact on the stock price of a pharmaceutical firm.
520 $a I also investigate the sources of variations in the magnitude of the change in stock price. For instance, I examine the impact of variables such as size of the firm, newness of the drug, firm specialization as represented by the match between current and past areas of research, and the institutional environment among other factors.
520 $a The research questions in this study are: (1) do patents create value? (2) do FDA drug approvals create value? (3) if value is indeed created at these events, what factors explain the extent of this value?
520 $a The study finds limited support for the role of property rights. However, approval of the drug by the FDA is found to be significant in creating value. The marketing and distribution capabilities of firms and the appropriability regime in which innovation takes place are also found to be relevant.
520 $a This study has profound implications for business policy in the pharmaceutical industry. It provides a holistic approach to the impact that firm characteristics have on value created by new drug introduction. Awareness of the relative importance of such characteristics can enable management to better focus their attention and resources.
590 $a School code: 0090.
650 4 $a Business Administration, Management. $3 626628
650 4 $a Health Sciences, Pharmacy. $3 1017737
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690 $a 0572
710 2 0 $a University of Illinois at Urbana-Champaign. $3 626646
773 0 $t Dissertation Abstracts International $g 60-09A.
790 1 0 $a Thomas, Howard, $e advisor
790 1 0 $a Seth, Anju, $e advisor
790 $a 0090
791 $a Ph.D.
792 $a 1999
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9944974