Abstract:Besides R&D spending, performance in terms of NDA and patent approval has been a key surrogate marker of R&D efforts of pharmaceutical firms. The results show that Korean firms are more responsive to patent approval, whereas non-Korean firms are more responsive to NDA approval. Although many recently approved patents of Korean firms are related to innovative discovery of novel drug candidates, the commercial value of NDA approvals accomplished by non-Korean firms is remarkably high. The annual quantitative acc… Show more
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