R&d Costs, Innovative Output and Firm Size in the Pharmaceutical Industry

摘要: This study examines the relationships between firm size, R&D costs and output in pharmaceutical industry. Project–level data from a survey of 12 US–owned firms on drug development costs, phase lengths failure rates are used to determine estimates cost new by size. Firms sample grouped into three size categories, according their sales at beginning period. The per approved US is shown decrease with while increase markedly Sales distributions highly skewed suggest that need search for blockbuster drugs above–average returns. results consistent substantial economies scale R&D, particularly discovery preclinical phases.