Essays on Government Policy and Pharmaceutical Innovation

Margaret E. Blume-Kohout

ResearchPublished Sep 23, 2009

New drug therapies may deliver many social and economic benefits, but current levels of innovation across diseases may not be socially optimal. This dissertation investigates two mechanisms by which governments may influence pharmaceutical research and development (R&D) priorities: (1) public funding for life sciences research; and (2) prescription drug insurance, as in Medicare Part D. The author finds federal funding for life sciences research spurs non-federal investment in academic R&D as well as downstream drug development. Likewise, introduction of Medicare Part D increased both the number of drugs entering clinical trials and firm R&D expenditures for higher-Medicare-share drugs.

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Blume-Kohout, Margaret E., Essays on Government Policy and Pharmaceutical Innovation. Santa Monica, CA: RAND Corporation, 2009. https://www.rand.org/pubs/rgs_dissertations/RGSD248.html.
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This document was submitted as a dissertation in June 2009 in partial fulfillment of the requirements of the doctoral degree in public policy analysis at the Pardee RAND Graduate School. The faculty committee that supervised and approved the dissertation consisted of Neeraj Sood (Chair), Greg Ridgeway, and Dana Goldman.

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