Nber Working Paper Series the Diffusion of Science Driven Drug Discovery: Organizational Change in Pharmaceutical Research

This paper was prepared for the NBER Conference on Organizational Change and Performance Improvement. We gratefully acknowledge funding from POPI, the Program for the Study of the Pharmaceutical Industry at MIT, by the MIT Center for Innovation in Product Development under NSF Cooperative Agreement Number EEC-9529140, and the Sloan Foundation. Stern completed this paper as an NBER Fellow in Health and Aging. Jeff Furman and Pierre Azoulay provided outstanding research assistance, and we would also like to thank Zvi Griliches and Ken Sokoloff for many helpful comments. The views expressed herein are those of the authors and not necessarily those of the National Bureau of Economic Research.