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KMID : 1170320160220010021
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Korean Journal of Health Economics and Policy
2016 Volume.22 No. 1 p.21 ~ p.38
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A Study on the Relation between R&D Investment and Patent in Korean Pharmaceutical Industry
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Kim Geun-Ryeong
Kim Gi-Hong
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Abstract
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This study aims to identify distinctive characteristics of R&D investment made by listed korean pharmaceutical industry, and examine its time lag between R&D investment and patent. To this end, the researcher conducts an empirical analysis on a time-lag from investment to patent application based on Almon distributed lag model. The analysis results are as follows. The application of Amlon distributed lag model showed that the time-lag between R&D investment and patent application was 1 year, which is a little shorter than earlier studies. To sum, it was observed that domestic pharmaceutical companies mostly focus on short-term R&D investment regarding enhanced new drugs and generic drugs to yield profits in the near term, instead of making long-term investment to develop new drugs, which incurs expenses over an extended period of time.
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KEYWORD
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R&D Investment, Patent, Time lag, Pharmaceutical Industry
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FullTexts / Linksout information
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Listed journal information
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