How patents benefit US biopharmaceutical companies?

Abstract

This study examines the relation between patents and business efficiency. Firstly, the dynamic data envelopment analysis (DEA) model is employed to measure the performance of US biopharmaceutical companies. Then, ordinary least squares (OLS) regressions are utilized to investigate the impacts of three patent-related variables which are patent counts, citations and claims on corporate performance. Results from this research illustrate the positive effects of patent counts, citations and claims on operating efficiency