TY  - JOUR
AU  - Philipson,Tomas J.
AU  - Jena,Anupam B.
TI  - Who Benefits from New Medical Technologies? Estimates of Consumer and Producer Surpluses for HIV/AIDS Drugs
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 11810
PY  - 2005
Y2  - December 2005
UR  - http://www.nber.org/papers/w11810
L1  - http://www.nber.org/papers/w11810.pdf
N1  - Author contact info:
Tomas Philipson
Irving B. Harris Graduate School
of Public Policy Studies
University of Chicago
1155 E. 60th Street
Chicago, IL 60637
Tel: 773/502-7773
E-Mail: t-philipson@uchicago.edu

Anupam Jena
Department of Health Care Policy
Harvard Medical School
180 Longwood Avenue, Door A
Boston, MA 02115
E-Mail: jena.anupam@mgh.harvard.edu
AB  - The social value of an innovation is comprised of the value to consumers and the value to innovators. We estimate that for the HIV/AIDS therapies that entered the market from the late 1980's onwards, innovators appropriated only 5% of the social surplus arising from these new technologies. Despite the high annual costs of these drugs to patients, the low share of social surplus going to innovators raises concerns about advocating cost-effectiveness criteria that would further reduce this share, and hence further reduce incentives for innovation.
ER  -