{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,28]],"date-time":"2026-04-28T05:38:46Z","timestamp":1777354726095,"version":"3.51.4"},"reference-count":36,"publisher":"Elsevier BV","issue":"2","license":[{"start":{"date-parts":[[2003,3,1]],"date-time":"2003-03-01T00:00:00Z","timestamp":1046476800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/tdm\/userlicense\/1.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Journal of Health Economics"],"published-print":{"date-parts":[[2003,3]]},"DOI":"10.1016\/s0167-6296(02)00126-1","type":"journal-article","created":{"date-parts":[[2003,2,28]],"date-time":"2003-02-28T12:49:37Z","timestamp":1046436577000},"page":"151-185","source":"Crossref","is-referenced-by-count":3007,"title":["The price of innovation: new estimates of drug development costs"],"prefix":"10.1016","volume":"22","author":[{"given":"Joseph A","family":"DiMasi","sequence":"first","affiliation":[]},{"given":"Ronald W","family":"Hansen","sequence":"additional","affiliation":[]},{"given":"Henry G","family":"Grabowski","sequence":"additional","affiliation":[]}],"member":"78","reference":[{"key":"10.1016\/S0167-6296(02)00126-1_BIB1","unstructured":"Boston Consulting Group, 1993. The Contribution of Pharmaceutical Companies: What\u2019s at Stake for America. The Boston Consulting Group, Boston, MA, September 1993."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB2","unstructured":"US Congressional Budget Office, 1998. How Increased Competition from Generic Drugs has Affected Prices and Returns in the Pharmaceutical Industry. US Government Printing Office, Washington, DC, July 1998."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB3","unstructured":"Clarkson, 1977. Intangible Capital and Rates of Return, American Enterprise Institute, Washington, DC."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB4","unstructured":"CMR, 2000. Describing Dossiers: Characterising Clinical Dossiers for Global Registration. R&D Briefing 25, CMR International, Surrey, UK."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB5","doi-asserted-by":"crossref","first-page":"107","DOI":"10.1016\/0167-6296(91)90001-4","article-title":"Cost of innovation in the pharmaceutical industry","volume":"10","author":"DiMasi","year":"1991","journal-title":"Journal of Health Economics"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB6","doi-asserted-by":"crossref","first-page":"152","DOI":"10.2165\/00019053-199507020-00007","article-title":"Research and development costs for new drugs by therapeutic category: a study of the US pharmaceutical industry","volume":"7","author":"DiMasi","year":"1995","journal-title":"PharmacoEconomics"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB7","doi-asserted-by":"crossref","first-page":"201","DOI":"10.1080\/758519309","article-title":"R&D costs, innovative output and firm size in the pharmaceutical industry","volume":"2","author":"DiMasi","year":"1995","journal-title":"International Journal of the Economics of Business"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB8","doi-asserted-by":"crossref","first-page":"1169","DOI":"10.1177\/009286150003400425","article-title":"New drug innovation and pharmaceutical industry structure: trends in the output of pharmaceutical firms","volume":"34","author":"DiMasi","year":"2000","journal-title":"Drug Information Journal"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB9","doi-asserted-by":"crossref","first-page":"286","DOI":"10.1067\/mcp.2001.115132","article-title":"New drug development in the United States 1963\u20131999","volume":"69","author":"DiMasi","year":"2001","journal-title":"Clinical Pharmacology & Therapeutics"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB10","doi-asserted-by":"crossref","first-page":"297","DOI":"10.1067\/mcp.2001.115446","article-title":"Risks in new drug development: approval success rates for investigational drugs","volume":"69","author":"DiMasi","year":"2001","journal-title":"Clinical Pharmacology & Therapeutics"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB11","unstructured":"F-D-C Reports, 1999. NDA Submissions are Shrinking in Size but Increasing in Complexity. The Pink Sheet 61, p. 28."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB12","doi-asserted-by":"crossref","first-page":"804","DOI":"10.1287\/mnsc.36.7.804","article-title":"A new look at the returns and risks to pharmaceutical R&D","volume":"36","author":"Grabowski","year":"1990","journal-title":"Management Science"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB13","doi-asserted-by":"crossref","first-page":"383","DOI":"10.1016\/0167-6296(94)90010-8","article-title":"Returns to R&D on new drug introductions in the 1980s","volume":"13","author":"Grabowski","year":"1994","journal-title":"Journal of Health Economics"},{"issue":"Supplement 1","key":"10.1016\/S0167-6296(02)00126-1_BIB14","doi-asserted-by":"crossref","first-page":"21","DOI":"10.2165\/00019053-200018001-00005","article-title":"The distribution of sales revenues from pharmaceutical innovation","volume":"18","author":"Grabowski","year":"2000","journal-title":"PharmacoEconomics"},{"issue":"Supplement 3","key":"10.1016\/S0167-6296(02)00126-1_BIB15","doi-asserted-by":"crossref","first-page":"11","DOI":"10.2165\/00019053-200220003-00002","article-title":"Returns on research and development for 1990s new drug introductions","volume":"20","author":"Grabowski","year":"2002","journal-title":"PharmacoEconomics"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB16","unstructured":"Guenther, G., 1999. Federal taxation of the drug industry from 1990 to 1996. Memorandum to Joint Economic Committee, US Congress, Congressional Research Service, 13 December 1999."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB17","unstructured":"Hansen, R.W., 1979. The pharmaceutical development process: estimates of current development costs and times and the effects of regulatory changes. In: Chien, R.I. (Ed.), Issues in Pharmaceutical Economics. Lexington Books, Lexington, MA, pp. 151\u2013187."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB18","unstructured":"Ibbotson Associates, 2001. Stocks, Bonds, Bills & Inflation: 2001 Yearbook, Ibbotson Associates, Chicago, Illinois."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB19","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1177\/009286150003400101","article-title":"The new drug approvals of 1996, 1997, and 1998: drug development trends in the user fee era","volume":"34","author":"Kaitin","year":"2000","journal-title":"Drug Information Journal"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB20","doi-asserted-by":"crossref","first-page":"673","DOI":"10.1177\/009286150003400303","article-title":"Measuring the pace of new drug development in the user fee era","volume":"34","author":"Kaitin","year":"2000","journal-title":"Drug Information Journal"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB21","unstructured":"Myers, S.C., Shyam-Sunder, L., 1996. Measuring pharmaceutical industry risk and the cost-of-capital. In: Helms, R.B. (Ed.), Competitive Strategies in the Pharmaceutical Industry. American Enterprise Institute, Washington, DC, pp. 208\u2013237."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB22","unstructured":"Myers, S.C., Howe, C.D., 1997. A life-cycle financial model of pharmaceutical R&D. Working Paper, Program on the Pharmaceutical Industry. Massachusetts Institute of Technology, Cambridge, MA."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB23","unstructured":"National Institutes of Health, 2000. NIH Response to the Conference Report Request for a Plan to Ensure Taxpayers\u2019 Interests are Protected: A Plan to Ensure Taxpayers\u2019 Interests are Protected. National Institutes of Health, Rockville, MD, July 2001."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB24","unstructured":"US Congress, Office of Technology Assessment, 1993. Pharmaceutical R&D: Costs, Risks, and Rewards, OTA-H-522. US Government Printing Office, Washington, DC."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB25","first-page":"163","article-title":"Drug development: improving the process","volume":"52","author":"Peck","year":"1997","journal-title":"Food and Drug Law Journal"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB26","unstructured":"Pharma Marketletter, 2001. Genomics may increase costs of NCE development, says Lehman Bros. Pharma Marketletter, vol. 28, 26 February 2001, pp. 24\u201325."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB27","unstructured":"PhRMA, 2000. Pharmaceutical Industry Profile 2000: Research for the Millennium, Pharmaceutical Research and Manufacturers of America, Washington, DC."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB28","unstructured":"PhRMA, 2001. Pharmaceutical Industry Profile 2001, Pharmaceutical Research and Manufacturers of America, Washington, DC."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB29","unstructured":"PJB Publications Ltd., 2000. Scrip\u2019s 2000 Pharmaceutical Company League Tables, Richmond, Surrey, UK, 3 November 2000."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB30","unstructured":"Pollack, A., 2002. Despite Billions for Discoveries, Pipeline of Drugs is Far from Full. New York Times, 19 April 2002."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB31","unstructured":"Public Citizen, 2001. Rx R&D Myths: The Case Against the Drug Industry\u2019s R&D Scare Card, Public Citizen, Congress Watch, July 2001."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB32","doi-asserted-by":"crossref","first-page":"364","DOI":"10.1016\/S0167-7799(00)01473-6","article-title":"New biopharmaceuticals in the US: trends in development and marketing approvals 1995\u20131999","volume":"18","author":"Reichert","year":"2000","journal-title":"Trends in Biotechnology"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB33","doi-asserted-by":"crossref","unstructured":"Scherer, F.M., 2000. The pharmaceutical industry. In: Newhouse, J.P. (Ed.), Handbook of Health Economics, vol. 1. Elsevier, Amsterdam, Chapter 25, pp. 1297\u20131336.","DOI":"10.1016\/S1574-0064(00)80038-4"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB34","doi-asserted-by":"crossref","first-page":"216","DOI":"10.1377\/hlthaff.20.5.216","article-title":"The link between gross profitability and pharmaceutical R&D spending","volume":"20","author":"Scherer","year":"2001","journal-title":"Health Affairs"},{"key":"10.1016\/S0167-6296(02)00126-1_BIB35","unstructured":"Tollman, P., Guy, P., Altshuler, J., Flanagan, A., Steiner, M., 2001. A Revolution in R&D: The Impact of Genomics. The Boston Consulting Group, Boston, MA, June 2001."},{"key":"10.1016\/S0167-6296(02)00126-1_BIB36","unstructured":"US Food and Drug Administration, Center for Drug Evaluation and Research, 1999. From Test Tube to Patient: Improving Health Through Human Drugs (special report). US Government Printing Office, Washington, DC, September 1999 (http:\/\/www.fda.gov\/fdac\/special\/newdrug\/ndd_toc.html)."}],"container-title":["Journal of Health Economics"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0167629602001261?httpAccept=text\/xml","content-type":"text\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0167629602001261?httpAccept=text\/plain","content-type":"text\/plain","content-version":"vor","intended-application":"text-mining"}],"deposited":{"date-parts":[[2020,3,12]],"date-time":"2020-03-12T02:05:36Z","timestamp":1583978736000},"score":1,"resource":{"primary":{"URL":"https:\/\/linkinghub.elsevier.com\/retrieve\/pii\/S0167629602001261"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2003,3]]},"references-count":36,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2003,3]]}},"alternative-id":["S0167629602001261"],"URL":"https:\/\/doi.org\/10.1016\/s0167-6296(02)00126-1","relation":{},"ISSN":["0167-6296"],"issn-type":[{"value":"0167-6296","type":"print"}],"subject":[],"published":{"date-parts":[[2003,3]]}}}