Φαρμακευτικός κλάδος: μια εμπειρική μελέτη
Pharmaceutical industry: an empirical analysis
Κλίτσα - Γασπαράκη, Ελένη
The purpose of this study is to present the evolution of drugs and clinical trials, as well as the evolution of the relevant regulatory framework from the ancient times up to now. Earlier studies had shown that smaller pharmaceutical companies get more drug approvals and that the returns from the R&D seem to be gradually reducing. We perform an empirical analysis employing data from five OECD countries, which are leaders in the pharmaceutical industry. The results of the empirical analysis show that the expenditures for R&D heavily influence the growth rate of the value added in the industry.