Joseph A. DiMasi, PhD
Director of Economic Analysis & Research Associate Professor
Area of Expertise
R&D efficiency, approval success rates, development and regulatory approval time metrics, impact of regulatory policies, economics of innovation in the pharmaceutical and biotechnology industries
|Faculty Summary||Recently Completed Research Projects|
My research interests include the R&D cost of new drug development, clinical success and phase attrition rates, development and regulatory approval times, the role that pharmacoeconomic evaluations have played in the R&D process, pricing and profitability in the pharmaceutical industry, innovation incentives for pharmaceutical R&D, and changes in the structure and performance of the pharmaceutical and biotechnology industries.
Current Research Initiatives
- R&D Costs for New Drug Development – New estimates of the R&D cost per approved new drug will be developed for drugs as a whole, by phase of development, and molecule type. The costs of failures and time costs will be considered.
- Cancer Drug Development Trends – Analyses of approval success rates and phase transition rates for first and follow-on indications for oncology drugs by molecule type, as well as analysis of reasons for failure.
- DiMasi JA, Grabowski HG. R&D Costs and returns to new drug development: a review of the evidence. In The Oxford Handbook of The Economics of the Biopharmaceutical Industry. eds. PM Danzon and S Nicholson, 2012, chapter 2:21-46. Oxford, UK: Oxford University Press.
- Kaitin KI, DiMasi, JA. Pharmaceutical innovation in the 21st century: new drug approvals in the first decade, 2000-2009. Clinical Pharmacology & Therapeutics 2011;89(2):183-188.
- DiMasi JA, Faden L. Competiveness in follow-on drug R&D: a race or imitation? Nature Reviews Drug Discovery 2011;10(1):23-27.
- DiMasi JA, Feldman L, Seckler A, Wilson A. Trends in risks associated with new drug development: success rates for investigational drugs. Clinical Pharmacology & Therapeutics 2010;87:272-277.
- Vernon J, Golec J, DiMasi JA. Drug development costs when financial risk is measured using the Fama-French three-factor model. Health Economic Letters 2010;19(8):1002-1005.
- Zycher B, DiMasi JA, Milne C. Private sector contributions to pharmaceutical science: thirty-five summary case histories. American Journal of Therapeutics 2010;17:101-120.
- DiMasi JA, Faden L. Factors associated with multiple FDA review cycles and approval phase times. Drug Information Journal 2009;43(2):201-225.
- DiMasi JA, Grabowski HG. The cost of biopharmaceutical R&D: is biotech different?. Managerial & Decision Economics 2007;28:469-479.
- DiMasi JA, Paquette C. The economics of follow-on drug R&D: trends in entry rates and the timing of development. PharmacoEconomics 2004;22(Suppl 2):1-14.
- DiMasi JA, Grabowski HG, Vernon J. R&D costs and returns by therapeutic category. Drug Information Journal 2004; 38(3):211-223.
- DiMasi JA, Hansen RW, Grabowski HG. The price of innovation: new estimates of drug development costs. Journal of Health Economics 2003;22(2):151-85.
- Grabowski HG, Vernon J, DiMasi JA. Returns on research and development for 1990s new drug introductions. PharmacoEconomics 2002;20(Suppl 3):11-29.
- DiMasi JA. The value of improving the productivity of the drug development process: faster times and better decisions. PharmacoEconomics 2002;20(Suppl 3):1-10.
- DiMasi JA, Caglarcan E, Wood-Armany M. Emerging role of pharmacoeconomics in the research and development decision-making process. PharmacoEconomics 2001;19:753-66.
- DiMasi JA. Risks in new drug development: approval success rates for investigational drugs. Clinical Pharmacology & Therapeutics 2001;69:297-307.
- DiMasi JA. New drug development in the United States: 1963-1999. Clinical Pharmacology & Therapeutics 2001;69:286-96.
- DiMasi JA. New drug innovation and pharmaceutical industry structure: trends in the output of pharmaceutical firms. Drug Information Journal 2000;34:1169-94.
- DiMasi JA, Manocchia M. Initiatives to speed new drug development and regulatory review: the impact of FDA-sponsor conferences. Drug Information Journal 1997;31:771-88.
- DiMasi JA, Grabowski HG, Vernon J. R&D costs, innovative output, and firm size in the pharmaceutical industry. International Journal of the Economics of Business 1995;2:201-19.
- DiMasi JA, Hansen RW, Grabowski HG, Lasagna L. Research and development costs for new drugs by therapeutic category: a study of the US pharmaceutical industry. PharmacoEconomics 1995;7:152-69.
- DiMasi JA, Hansen RW, Grabowski HG, Lasagna L. Cost of innovation in the pharmaceutical industry. Journal of Health Economics 1991;10:107-42.
- DiMasi JA, Kaitin KI, Fernandez-Carol C, Lasagna L. New indications for already-approved drugs: an analysis of regulatory review times. Journal of Clinical Pharmacology 1991;31(3):205-15.
Board Memberships and Affiliations
- Editorial Board, Drug Information Journal,1995-1999
- Editorial Board, Journal of Research in Pharmaceutical Economics (later called Journal of Pharmaceutical Finance, Economics & Policy), 1998-2008
- Member, American Economic Asssociation, 1981-2012