Competition and Pharmaceutical Innovation: The Moderating Role of Size and Age of Leading Companies in the Market

Despite a long period of research on the relationship between competition and innovation, contradictory observations about their have been reported there is yet no consensus this relationship. Moreover, few studies how affected by characteristics companies participating in market. In article, we aim to examine innovation activities, particularly pharmaceutical industry, investigate moderated size age leading companies. By analyzing 8243 drug development activities competitive intensity global market for 234 classes, found that positive linear 1-Herfindal–Hershman Index or number competitors projects. addition, it was negatively Based these findings, discussed several implications stimulating innovations.