Should Investors Pay Attention to the Alleged Productivity Crises in Pharma?

Health policy analysts across the globe have declared that pharmaceutical R&D investments are becoming less productive over time. In contrast, investors that fund these R&D investments are posting increasing valuations of the same companies. This conflict can be resolved when productivity is measured in ways that matter to patients and thereby generate the increased earnings supporting larger valuations. New evidence from the University of Chicago suggests that previous measures miss half the story and that R&D productivity has risen, not fallen, over time.

Millennials: A Generation of Super Savers In The Economy

Co-authored by Alex Verkhivker, who is a contributor at e21, the economics portal of the Manhattan Institute. Previously, he worked as an economic researcher with the Federal Trade Commission in Washington, D.C. and as an Associate Economist at the Federal Reserve Bank of Chicago. The “millennial” generation is gaining increasing attention in […]