Managing generic competition and patent strategies in the pharmaceutical industry

Legal context: The income streams of originating pharmaceutical manufacturersare under pressure as never before, from increasing R&Dcosts, regulatory pressures, and competition from generic manufacturers.This article examines the various strategies which originatingpharmaceutical manufacturers have adopted in response to thesethreats. Key points: The authors consider various strategies, including SupplementaryProtection Certificates, life-cycle management (‘evergreening’),second pharmaceutical use claims, trade marks, and the use ofdata exclusivity and interim injunctions, in order to prolongthe protection given to existing products, and to manage competitionfrom generic manufacturers. Practical significance: The authors also include two real-life case studies in orderto illustrate the practical applications of the strategies discussedin the article.     

Correction to: Mass Media and Electoral Preferences During the 2016 US Presidential Race

Political Behavior - This erratum provides additional analysis and clarification relating to the original version of the article.     

Why do only some people who support parties actually join them? Evidence from Britain

What makes people join a political party is one of the most commonly studied questions in research on party members. Nearly all this research, however, is based on talking to people who have actually joined parties. This article simultaneously analyses surveys of members of political parties in Britain and surveys of non-member supporters of those same parties. This uniquely enables us to model the decision to join parties. The results suggest that most of the elements that constitute the influential ‘General Incentives Model’ are significant. But it also reveals that, while party supporters imagine that selective benefits, social norms and opposing rival parties’ policies are key factors in members’ decisions to join a party, those who actually do so are more likely to say they are motivated by attachments to their party’s values, policies and leaders, as well as by an altruistic desire to support democracy more generally.     

Socialization and generational political trajectories: an age,period and cohort analysis of political participation in Britain

The role of political socialization in explaining disengagement from specific modes of activism beyond voting remains largely unexplored, limited to date by available data and methods. While most previous studies have tended to propose explanations for disengagement linked to specific repertoires of political action, we propose a unified theory based on the different socialization experiences of subsequent generations. We test this theory using a new dataset of collated waves of the British Social Attitudes Survey and by applying age–period–cohort models for repeated cross-sectional data and generalized additive models to identify generational effects. We show that generational effects underlie the participatory decline across repertoires. Consistent with our expectations, the results reveal that the generation of “Thatcher’s Children” are much less likely to engage in a range of repertoires of political action than “Wilson/Callaghan’s Children”, who came of age in the more politicized 1960s and 1970s. Significantly, and in line with our theoretical expectations, the “Blair’s Babies” generation is the least politically engaged of all. We reflect on these findings and highlight the concerning implications of falling levels of activism for advanced democracies.     

Market segmentation and lender specialization in the primary and secondary mortgage markets

Abstract

This paper provides a comprehensive evaluation of market segmentation and lender/purchaser specialization in the primary and secondary mortgage markets. It describes and assesses the 1990 Home Mortgage Disclosure Act (HMDA) data, which for the first time provide detailed information on the borrower and neighborhood racial and income characteristics of mortgage loan originations and securitizations in the primary and secondary mortgage markets. Evidence presented in the paper indicates that home purchase loan origination rates for black applicants—and, to a lesser degree, Hispanic applicants—appear to be significantly lower than those of other racial or ethnic groups. Similarly, the HMDA data reveal that home purchase mortgage origination rates in predominantly minority census tracts are significantly lower than those in predominantly white neighborhoods. The HMDA data also indicate a striking reliance of black borrowers on government‐backed forms of mortgage credit.

The paper further reveals that secondary market loan purchase distributions arrayed by borrower and neighborhood characteristics generally reflect those of home mortgage originations. The borrower and locational characteristics of home purchase loans acquired by the Government National Mortgage Association (GNMA) directly reflect that agency's legislated specialization in government‐backed loans, whereas the characteristics of loans acquired by Fannie Mae and Freddie Mac for the most part derive from the borrower and geographic composition of conventional home purchase loan originations. Findings of analyses of HMDA data raise concern regarding the access of minority and low‐income households and neighborhoods to mortgage finance. Those results also raise some question as to whether the federally chartered agencies in the secondary market are adequately promoting the availability of mortgage credit to low‐ and moderate‐income and minority households.