A new prize system for drug innovation

Highlights ► We propose a new prize (reward) system for drug innovation. ► It pays a price based on the value of health benefits accrued over time. ► Thus, it rewards the innovator for the social value of drug innovation. ► It reduces incentives to promote drug overuse and decreases related marketin...

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Bibliographic Details
Published in:Health policy (Amsterdam) 2011-10, Vol.102 (2), p.170-177
Main Authors: Gandjour, Afschin, Chernyak, Nadja
Format: Article
Language:English
Subjects:
Algorithms
Awards and Prizes
Benefits
Cost effectiveness
Cost-Benefit Analysis
Diffusion of Innovation
Drug Costs
Drug Discovery - economics
Drug Industry - economics
Drug innovation
Drug innovation Prize system Value-based pricing
Drugs
Generic prescribing
Health
Health administration
Health care
Health services
Humans
Innovation
Internal Medicine
Marketing
Medical treatment
Nursing
Palliative care
Patents as Topic
Pharmaceutical industry
Prices
Prize system
Research and development
Research Support as Topic - economics
Rewards
Social values
Value-based pricing
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Summary:Highlights ► We propose a new prize (reward) system for drug innovation. ► It pays a price based on the value of health benefits accrued over time. ► Thus, it rewards the innovator for the social value of drug innovation. ► It reduces incentives to promote drug overuse and decreases related marketing costs.
ISSN:0168-8510
1872-6054
DOI:10.1016/j.healthpol.2011.06.001