Abstract
We review the literature on financial intermediation in the process by which new medical therapeutics are financed, developed, and delivered. We discuss the contributing factors that lead to a key finding in the literature—underinvestment in biomedical R&D—and focus on the role that banks and other intermediaries can play in financing biomedical R&D and potentially closing this funding gap. We conclude with a discussion of the role of financial intermediation in the delivery of healthcare to patients.
Original language | English (US) |
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Article number | 101028 |
Journal | Journal of Financial Intermediation |
Volume | 54 |
DOIs | |
State | Published - Apr 2023 |
Bibliographical note
Publisher Copyright:© 2023 Elsevier Inc.
Keywords
- Drug development
- Financial intermediaries
- Healthcare finance
- R&D, Innovation