Innovation versus Financialization in the US Pharmaceutical Industry
Tulum, Oner (The Academic-Industry Research Network), Lazonick, William (The Academic-Industry Research Network)
Description
The US government is negotiating with pharmaceutical companies on the price of ten drugs. This Element shows that the companies (a) should have their drug prices regulated, (b) use their profits to distribute cash dividends and stock buybacks; (c) do not rely on investment by shareholders; and (d) benefit from 'collective and cumulative learning.'
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