Missing Novelty in Drug Development
<jats:title>Abstract</jats:title> <jats:p>We provide evidence that risk aversion leads pharmaceutical firms to underinvest in radical innovation. We introduce a new measure of drug novelty based on chemical similarity and show that firms face a risk-reward trade-off: novel drug can...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Oxford University Press (OUP),
2022-08-03T17:29:31Z.
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| Subjects: | |
| Online Access: | Get fulltext |