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From Patents to Regulatory Exclusivities in Drug Development: A Comparative Transaction CostAnalysis.

  • Published In: Jurimetrics: The Journal of Law, Science & Technology, 2024, v. 64, n. 4. P. 75 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: Morgan, Maxwell; Gold, E. Richard 3 of 3

Abstract

Drug development faces declining productivity, resulting in fewer novel drugs and higher costs. Moreover, market failures in specific therapeutic categories, including rare, pediatric, neurological, and tropical diseases, as well as antibiotics and antivirals, continue to leave many patients without adequate treatment options. Recognizing the trend towards collaborations between private and public sector actors, this Article advocates for a transformative policy shift: transitioning from a system driven by patents and trade secrecy to one centered on regulatory exclusivities as the primary incentive. Drawing from Oliver Williamson's transaction cost economics framework, this Article examines the impacts of patenting and trade secrets on collaborative drug development compared to regulatory exclusivities. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Jurimetrics: The Journal of Law, Science & Technology. 2024/07, Vol. 64, Issue 4, p75
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2024
  • ISSN:0897-1277
  • Accession Number:186361474
  • Copyright Statement:Copyright of Jurimetrics: The Journal of Law, Science & Technology is the property of American Bar Association and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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