Economics for the Clueless Scientist 2 – Healthcare Innovation with Oner Tulum

Описание: Professor Oner Tulum joins PSPDG for the second installment of Economics for the Clueless Scientist, a crash course in cutting edge economics.

The pharmaceutical industry in the U.S. has long been driven by the ideology of maximizing shareholder value, and has benefited from the absence of price regulation. As a result, and under the claim that higher profits lead to higher expenditure in research and development, drug prices in the U.S. are much higher than in most developed countries.

There is, however, evidence that American pharmaceutical companies are, in fact, suffering from a productivity crisis driven by the financialization of this industry. Dr. Öner Tulum will explain how the theory of innovative enterprise can help us understand the ongoing tensions between financialization and innovation in the pharmaceutical sector, how the situation in U.S. companies compares to that of their European counterparts, as well as discuss in more detail the case of Merck. We will also learn about the corporate governance strategies that can help revive innovation in U.S. pharmaceutical companies while also reducing drug costs.
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Dr. Öner Tulum is a Postdoctoral Research Associate at SOAS University of London and a Senior Researcher at the Academic-Industry Research Network. He obtained his P.h.D. at the University of Ljubljana, was a visiting scholar at the University of Massachusetts Amherst and a Marie Curie Research Fellow at the National University of Ireland Galway. He also holds a Masters degree in Regional Economic and Social Development from the University of Massachusetts Lowell and an MBA from the University of Massachusetts Dartmouth. His research focuses on the tension between innovation and financialization of the pharmaceutical industry in the U.S. and has helped develop the Theory of Innovative Enterprise.