19 April 2018
TIME-MBE and the TECHNIS research group invites you to a web-seminar (webinar).
Please join us for a webinar on Tuesday the 24th of April 2018 at 11:00 GMT. The speaker is Stefan Wagner, ESMT European School of Management and Technology, Berlin.
The title of the talk is “Patents, Data Exclusivity, and the Development of New Drugs”.
The moderator will be Dr. Andreas Panagopoulos.
The program we use to deliver webinars is called VSee and you can easily download it for free. A very short demo of VSee can be found at https://www.youtube.com/watch?v=nDb7-Mrz0L4.
This webinar is free and open to all.
To participate and for further information, please contact Dr. Andreas Panagopoulos at least a day prior to the seminar.
Abstract: Firms in the pharmaceutical industry typically rely on a period of market exclusivity derived from patent protection and data exclusivity to recoup their investments in R&D. The invalidation of patent rights during drug development renders data exclusivity the sole source of protection and shifts the period of market exclusivity on the project level. Invalidation therefore constitutes a natural experiment that allows us to identify how the duration of market exclusivity affects firms’ incentives to innovate. Our analysis is based on a novel data set that links the development histories of drug candidates with underlying patent data. We identify causal effects relying on an instrument for the potentially endogenous patent invalidation. Our findings highlight that shorter durations of market exclusivity reduce the likelihood of successful drug commercialization.