Micro data analysis about the impact of policy-induced change in competitive environment on innovation

1998年，日本的新药审查制度发生了巨大变化，有利于利用国外临床试验的结果。在这一制度变化之后，可以提前在国外进行临床试验的外国企业对与日本制药企业合作开发的依赖程度有所降低。当有外国公司参与时，合作药物开发的成功率更高。这种较高的成功率主要是由于它们选择了适当的合作伙伴，而不是由于它们可以通过提前完成国外临床试验而取得先机的优势。

In 1998, the Japanese system of reviewing new ethical drugs has drastically changed in favor of exploiting the results from clinical trials conducted abroad. After this institutional change, foreign companies, who can conduct clinical trials abroad in advance, became less dependent on cooperative development with Japanese pharmaceutical companies. Success probability of cooperative drug development is higher when foreign companies participated in the project. This higher rate of success is mainly due to their appropriate choice of cooperating partners, rather than their advantage that they can get a head start by finalizing clinical trials abroad in advance.