INNOVATION in the U.S. ethical drug industry in recent years has been by a number of adverse developments. In particular, there has a sharp decline in the rate of new product introductions and the incentive engaging in research and development (R & D) activity has been influenced by rapid increases in the costs and risks of developing products. While there is little debate about the existence of these adverse, there is considerable controversy about the factors producing., we list below five hypotheses that have been discussed as explanations the declining rate of innovation
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Grabowski et al. (1978) studied this question.