Manuel I. Hermosilla
Carey Business School
Johns Hopkins University
100 International Dr
Baltimore, MD 21202
NBER Working Papers and Publications
|December 2017||Therapeutic Translation in the Wake of the Genome|
with Jorge A. Lemus
in Economic Dimensions of Personalized and Precision Medicine, Ernst Berndt, Dana Goldman, and John Rowe, editor
|November 2017||Therapeutic Translation in the Wake of the Genome|
with Jorge A. Lemus: w23989
The completion of the Human Genome Project (“HGP”) led many scientists to predict a swift revolution in human therapeutics. Despite large advances, however, this revolution has been slow to materialize. We investigate the hypothesis that this slow progress may stem from the large amounts of biological complexity unveiled by the Genome. Our test relies on a disease-specific measure of biological complexity, constructed by drawing on insights from Network Medicine (Barabasi et al., 2011). According to this measure, more complex diseases are those associated with a larger number of genetic associations, or with higher centrality in the Human Disease Network (Goh et al., 2007). With this measure in hand, we estimate the rate of translation of new science into early stage drug innovation by foc...
Forthcoming: Therapeutic Translation in the Wake of the Genome, Manuel I. Hermosilla, Jorge A. Lemus. in Economic Dimensions of Personalized and Precision Medicine, Berndt, Goldman, and Rowe. 2017
|June 2014||Pharmaceutical Profits and the Social Value of Innovation|
with David Dranove, Craig Garthwaite: w20212
Prior research has shown that exogenous shocks to the demand for medical products spur additional product development. These studies do not distinguish between breakthrough products and those that largely duplicate the performance of existing products. In this paper, we use a novel data set to explore the impact of the introduction of Medicare Part D on the development of new biotechnology products. We find that the law spurred development of products targeting illnesses that affect the elderly, but most of this effect is concentrated among products aimed at diseases that already have multiple existing treatments. Moreover, we find no increase in products targeting orphan disease or those receiving either fast track or priority review status from the FDA. This suggests that marginal change...