Centralized Drug Procurement Policy and R&D Behavior of Pharmaceutical Companies
The centralized drug procurement policy is set to intensify competition among pharmaceutical com-panies,resulting in increased investment in research and development(R&D).An analysis of R&D patent samples from pharmaceutical firms three years before and after the policy's implementation reveals that it positively im-pacts the number of patents.However,the switching costs faced by these companies and the anticipated market re-turns from procurement significantly influence their R&D activities,ultimately affecting their innovation efficiency.To address these challenges,it is crucial to further reduce institutional costs within the pharmaceutical sector,en-hance collaboration and mergers among companies,and improve innovation efficiency.This will help accelerate the refinement of the centralized drug procurement system and support the effective implementation of health policies in China.
centralized drug procurement policyR&D patentsconversion costexpected market returns
万方数据
维普
