Innovation and Merger Decisions in the Pharmaceutical Industry

Innovation and Merger Decisions in the Pharmaceutical Industry There is increasing public policy concern about the potentialeffects of mergers on innovation. This paper provides acomparative analysis of approaches to innovational competitiontaken by the E.U. and U.S. merger authorities in a sample of threerecent, major, pharmaceutical mergers. The European Commission'sapproach appears lighter handed and places more explicit emphasison effects in downstream markets. The uncertainties in the analysisof dynamic effects of mergers on innovation, even in pharmaceuticals,suggest the need for a cautious approach and for careful framingof any merger remedies where R & D projects and components, ratherthan approved drugs, are involved. Review of Industrial Organization Springer Journals

Innovation and Merger Decisions in the Pharmaceutical Industry

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Kluwer Academic Publishers
Copyright © 2001 by Kluwer Academic Publishers
Economics; Industrial Organization; Microeconomics
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