Private and Social Returns to R&D: Drug Development and Demographics


Research and development (R&D) by pharmaceutical firms focuses disproportionately on medical conditions afflicting the elderly. The proportion of R&D spending targeting older age groups is increasing over time. Even though these investments in R&D prolong life expectancy and improve quality of life, they have little effect on measured productivity and output growth.

[Author: by Efraim Benmelech, Janice Eberly, Dimitris Papanikolaou, and Joshua Krieger]


Tags: College, Dimitris Papanikolaou, Joshua Krieger, by Efraim Benmelech, Janice Eberly, and Joshua Krieger

Source:  https://hbswk.hbs.edu/item/private-and-social-returns-to-rd-drug-development-and-demographics?cid=wk-rss