Study Materials
1) What Do Patent Indicators Really Measure? Testing Current Theory on Value Drivers of Innovations Within a Structural Two-Stage Discrete Choice Simultaneous Equation Model
Abstract:
Patent indicators are widely used to assess innovative output. Despite the large variety of empirical studies in the field, however, the precise meaning of these indicators and their obvious relation to patent value is still based on assumptions and intuitions. This paper provides the first empirical test of patent indicators as value measures in the structural form. It disentangles the different effects reflected in patent indicators and enhances our understanding why inventions are valuable at all. Using a newly assembled data set on European polymer patents, current assumptions on the innovation incentives set by patentability requirements (novelty, inventive activity) are tested. The estimations are carried out using a custom-tailored two stage discrete choice probit model yet unknown in the literature. The results support the assumptions that novelty and inventive activity enhance a patent’s value. They confirm the importance of backward citations, family size, and forward citations as va lue indicators. However, they expand on and partly break with the respective explanations why patent indicators correlate with profitability.
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2) Application of Multiple Known Determinants to Evaluate Legal, Commercial and Technical Value of a Patent
3) Generic Drug Entry Prior to Patent Expiration:
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API's and Generic Drugs
What is Generic Drug?
When a drug company first invents a drug that company is the only one allowed to make that drug in the same country for a certain number of years. After this time period, other companies are allowed to make the same drug. These drugs are called generic drugs. The original drug (e.g. Viagra) is called a brand name drug.
rand name drugs and their generics are IDENTICAL in terms of active ingredients. The generic pills may look different (because they are made by a different company) but inside is exactly the same active ingredient, which works in exactly the same way. The only difference between brand name drugs and generic drugs is that generics are always much less expensive. Savings of up to 80% can be made by purchasing generic drugs instead of namebrand medication.
Are these the same drugs as the name brand products?Generic medication and the name brand equivalents are identical. All pharmaceuticals are simple recipes of common chemical raw ingredients. Making an exact copy of a pharmaceutical is quite simple. Generics do not look the same as the brand name products, even though they have the same active ingredient and work in exactly the same way. In addition, the same brand name pill may look different if manufacturer in a different country. For example, Celexa 20MG is a peach colored pill in the US, yet the Canadian pill is white and a little bit smaller than the US pill. Both pills are Celexa 20MG, both have the same active ingredient, and both are made by the same company. But, for whatever reason, the manufacturer decided to make the Canadian drugs a different color. When comparing 2 different Generics, they will look different if they are made by 2 different companies.
Are the Generic Drugs safe?
Generic drugs are just as safe and effective as their brand-name counterparts. These are the very companies that manufacture and export in bulk the drug that goes in to the making of the world's best-selling brands in US and Europe.
Generic drugs are held to the same rigid standards as the brand name drug, as dictated by the U.S. Food and Drug Administration. 45% of U.S. prescriptions today are filled with generic drugs.
CODE OF FEDERAL REGULATIONS [TITLE 21--FOOD AND DRUGS]
CHAPTER I--FOOD AND DRUG ADMINISTRATION,
DEPARTMENT OF HEALTH AND HUMAN SERVICES
Office of Generic Drugs
The Internet Drug List