Economics of Innovation
Optimal innovation balances willingness and ability to pay with the benefits of future R&D. Our wide-ranging programme aims to promote innovation in health care, increase our understanding of its value, and encourage R&D. New models of innovation should streamline development, reduce costs, and speed patient benefit.
How Does Pharmaceutical Spending Drive Innovation in Europe?
7 February 2022
A new publication by Kourouklis and Gandjour (2022) investigates the impact of pharmaceutical spending on domestic early-stage pharmaceutical innovation in Europe. They find that European spending…
Limitations of CBO’s Simulation Model of New Drug Development as a Tool for Policymakers
1 June 2022
In recent years, U.S. policymakers have been considering reforms to tackle high and rising prescription drug spending, including unprecedented direct limits on prices and price growth…
OHE Critique of CBO’S Pharmaceutical Investment Model Provides Warning for Policymakers on Reliability of Estimates
3 December 2021
As US policymakers consider the potential implications of the drug pricing reforms contained within the Build Back Better Act, OHE releases a critique of the Congressional Budget Office scoring, demonstrating that the estimates are highly uncertain and policymakers should exercise caution when relying upon them.
Virtual OHE Annual Lecture 2021: Do Patents Work? Evidence from Pharmaceutical Innovation
28 September 2021
The exceptional circumstances of COVID-19 revived the controversy around patents of pharmaceutical products. A group of specialists suggested that the Trade-Related Aspects of Intellectual Property Rights…
Does the New CBO Report Change Anything?
15 September 2021
Since we began our project to consult experts on the impact of H.R. 3. on pharmaceutical innovation the CBO has released a new working paper. Given…
Due to the Unprecedented Nature of H.R. 3, the CBO Analysis is Unreliable and Can’t Inform Policymaking
15 September 2021
As we have discussed in the previous blogs in our Series on H.R. 3, the Congressional Budget Office (CBO) have attempted to estimate the potential effect…
CBO Doesn’t Capture The Real Impact of H.R. 3 on Innovation
14 September 2021
In our previous blog we discussed how analyses of the impact of H.R. 3 published by the Congressional Budget Office (CBO) do not reflect the process…
The CBO Doesn’t Understand Investors
13 September 2021
Our second blog in the OHE H.R. 3 Series discusses how the Congressional Budget Office (CBO)’s analysis of H.R.3 does not reflect the reality of biopharmaceutical…
H.R. 3 is the Wrong Policy for the Wrong Problem
10 September 2021
US policy makers are discussing an attempt to lower prescription drug spending in the US. US policy makers are currently discussing the Elijah E. Cummings Lower…