서울대학교 SSK사업단(사회과학 연구지원 사업 - AI 시대의 사회기술적 전환: 인간 전문성과 알고리즘을 잇는 협력적 의사결정 체계 설계와 정책 연구)에서 아래와 같이 해외 연사 초청 세미나를 개최합니다. 

관심 있는 분들의 많은 참여를 부탁드립니다.

 

일시: 2026년 10월 6일 (화) 14:00~15:30

장소: 59동 406호

발표자: Professor Anant Mishra (VinUniversity)

 

Title: The Effects of Precision Medicine Innovation in a Competitive Drug Market: Evidence from Oncology Drugs

 

Abstract: The emergence of precision medicine has transformed healthcare by tailoring drug treatments to patient subpopulations. Yet, pharmaceutical firms face considerable uncertainty regarding the market impact of these targeted innovations. On one hand, precision medicines may curtail market size by narrowing their applications to niche patient populations. On the other hand, they may improve market performance by enhancing drug efficacy and increasing patient compliance. This uncertainty underscores the tension between clinical promise and commercial viability, carrying direct implications for firms' drug development decisions. In this study, we analyze a novel, hand-collected panel dataset of FDA-approved oncology drugs from 2009 to 2021, focusing on supplemental approvals for precision indications—i.e., biomarker-driven extensions of originally approved non-precision drugs. Contrary to concerns about market contraction, our difference-in-differences analysis reveals that approvals of precision indications are associated with significant increases in drug sales units and drug revenues. Moreover, the development of companion diagnostics, i.e., medical devices used to identify biomarker-driven patient subpopulations, amplifies these effects. We also explore firm-level heterogeneity and find that firms with greater experience in traditional drug development benefit less from precision indications, highlighting the organizational challenges faced by firms that are more deeply rooted in traditional drug development. Collectively, our findings suggest that precision medicine innovation can drive substantial commercial success and reshape how pharmaceutical firms approach drug development, underscoring the importance of coordination between pharmaceutical firms and medical device firms for successful commercialization. Keywords: innovation, precision medicines, companion diagnostics, market response, oncology