Publisher:
National Bureau of Economic Research, Cambridge, Mass.
"Recent evidence suggests that Medicare Part D has increased prescription drug use among the elderly, and earlier studies have indicated that increasing market size induces pharmaceutical innovation. This paper assesses the impact of Medicare Part D...
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ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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W 1 (13857)
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"Recent evidence suggests that Medicare Part D has increased prescription drug use among the elderly, and earlier studies have indicated that increasing market size induces pharmaceutical innovation. This paper assesses the impact of Medicare Part D on pharmaceutical research and development (R&D), using time-series data on the number of drugs in preclinical and clinical development by therapeutic class. We demonstrate that the passage of Medicare Part D was associated with significant increases in pharmaceutical R&D, especially for classes with high elderly market share"--National Bureau of Economic Research web site