Data and Code for "Patents, Innovation, and Competition in Pharmaceuticals: The Hatch- Waxman Act After Forty Years"

The central issue in pharmaceuticals, as a matter of economic inquiry and regulatory design, is how to balance the dynamic benefits of new drugs against the static benefits of low prices for existing drugs. In the United States, that balance is set by the Drug Price Competition and Patent Term Restoration Act of 1984, commonly known as the Hatch-Waxman Act. The 40th anniversary of the Act presents an opportunity to assess the Act’s successes and failures thus far. We provide evidence on the effects of the Act's patent listing, challenge, and restoration provisions.