The Research Of R&D Productivity Of The Chinese Pharmaceutical Industry

As China is restructuring and updating its economy, the economoy model grounded on export‐oriented manufacturing industries is showing its deficits. China needs to participate in the knowledge and technology race. The pharmaceuticals is a most knowledge and R&D intensive high tech industry, prioritizing R&D productivity the core competency of the pharmaceutical industry. No research papers have been published in the field of Chinese pharmaceutical industry R&D productivity. This paper is a systematic research in the Chinese pharmaceutical R&D productivity, which is based on economics and econometrics. The main work includes follows. First, the properties, procedures and process of pharmaceutical R&D productivity are summarized, and the internal mechanism is explored, followed by the presentation of the measurements and influential factors system of the Chinese pharmaceutical R&D productivity.Second, the econometric model of the Chinese pharmaceutical R&D productivity of the Chinese pharmaceutical industry is constructed based on the data collected. The OLS MLR analysis using cross‐sectional data is applied to determine the main factors. Third, the unobserved effects first differencing model mining panel data are constructed. We found the directions and strengths of the relationships between R&D productivity and independent factors.Fourth, a comparasive study is conducted between China and other countries, especially with the US. Finally, the R&D strategies are presented based on the empirical analysis. The gaps between China and the US have been indicated, and the advanced experiences are taken care of.Fifth, the R&D strategies for updating Chinese pharmaceutical industry are proposed, including R&D alliances, co‐opetition, industrial clusters, integrating into the economic theories of R&D productivity. The healthcare policies to stimulate the pharmaceutical R&D productivity of China are presented, which include polices of human resource, financial capital and healthcare reform. And the suggestions framework fits the factors of empirical model.