Financial risk of the Biotech Industry versus the Pharmaceutical Industry

被引：0

作者：

Joseph Golec

John A. Vernon

机构：

[1] University of Connecticut,Finance Department, School of Business

[2] University of North Carolina,Department of Health Policy and Administration

[3] National Bureau of Economic Research,undefined

来源：

Applied Health Economics and Health Policy | 2009年 / 7卷 / 3期

关键词：

Stock Market; Stock Return; Systematic Risk; Financial Risk; Pharmaceutical Firm;

D O I：

10.1007/BF03256149

中图分类号：

学科分类号：

摘要：

The biotech industry now accounts for a substantial and growing proportion of total R&D spending on new medicines. However, compared with the pharmaceutical industry, the biotech industry is financially fragile. This article illustrates the financial fragility of the biotech and pharmaceutical industries in the US and the implications of this fragility for the effects that government regulation could have on biotech firms.

引用

页码：155 / 165

页数：10

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