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Cited by 60Pharmaceutical Economics and PolicyBiotechnology and Related FieldsBiomedical Ethics and Regulation

A Market Shaping Approach for the Biopharmaceutical Industry: Governing Innovation Towards the Public Interest

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Mazzucato, Mariana, Li, Henry Lishi·2021·Journal of Law, Medicine & Ethics
DOI 10.1017/jme.2021.8
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Abstract

Enhancing research and development and ensuring equitable pricing and access to cutting-edge treatments are both vital to a biopharmaceutical innovation system that works in the public interest. However, despite delivering numerous therapeutic advances, the existing system suffers from major problems: a lack of directionality to meet key needs, inefficient collaboration, high prices that fail to reflect the public contribution, and an overly-financialized business model.

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  • Large state investment banks lend to sectors aligned with industrial and economic policy goals.

    “This includes large state investment banks that lend to sectors aligned with industrial and economic policy goals (Mazzucato, 2021)”

    From Mapping modern economic rents: the good, the bad, and the grey areas (2023) · cites this paper as Mazzucato, 2021

    The ‘Problems of the existing biopharmaceutical innovation system’ section says government agencies provide high-risk finance to companies, supporting the broader point about public financing. It does not identify large state investment banks or say they lend to sectors selected to align with industrial and economic policy goals; searches for investment banks and sectoral lending found no such passage. Page numbers were unavailable in our copy. (LLM, conf=0.78)

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Cited by

Sorted by citations

Authors
Mazzucato, M., & Li, H. L.
ORCID
Mazzucato, Mariana
Venue
Journal of Law, Medicine & Ethics
Publisher
Cambridge University Press (CUP)
Published
2021
Volume
49
Issue
1
Pages
39-49
ISSN
  • 1073-1105 (ISSN-L)
  • 1748-720X
DOI
10.1017/jme.2021.8
OpenAlex
W3153452158
Cited by
60
References
6
Citations by year
2026: 5 · 2025: 24 · 2024: 8 · 2023: 8 · 2022: 11 · 2021: 4
FWCI
7.05
Type
journal article
Language
en
Open access
Licence
Locations
  • The Journal of Law Medicine & Ethics (publishedVersion, public-domain)
  • PubMed (publishedVersion)
  • UCL Discovery (University College London) (submittedVersion)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Pharmaceutical Economics and Policy
  • Health Sciences › Medicine › Public Health, Environmental and Occupational Health › Biotechnology and Related Fields
  • Health Sciences › Medicine › Physiology › Biomedical Ethics and Regulation
Keywords
biopharmaceutical industry, innovation governance, market shaping, public interest, research and development, drug pricing, access to medicines, financialization, business models, innovation systems
MeSH terms
Biopharmaceutics, Drug Industry, Government, Research, Role, Public Sector, Intellectual Property, Health Care Sector

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