No time to die: The patent-induced bias towards acute conditions in pharmaceutical research and development (R&D)
Examining how patents influence the direction of pharmaceutical R&D
With private pharmaceutical firms being the drivers of innovation in medicine, how can we ensure research focuses on areas with the greatest social value? This study examines how the patent system creates dissonance between the private and social value of pharmaceutical R&D. This misalignment leads firms to overinvest in acute, rather than chronic conditions. The research will then evaluate which policies could mitigate this distortion and incentivize medical treatments for conditions with the greatest benefit to society.