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Fernando Castillo de la Torre and Eric Gippini Fournier

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Christian Koenig and Bernhard von Wendland

Regulation is the key to overcoming the tyranny of the marketplace in the pursuit of economic justice and welfare: it can prevent the abuse of economic dominance. Such abuse undermines a functioning market, the economic motor to producing welfare, sustainability and inclusiveness. Abuse of public capital is as omnipresent as the abuse of market dominance by private capital. The state can make major investments or compete with the private sector, or pick winners and subsidise them. Such interventions may be necessary e.g. to provide infrastructure. The wasteful allocation of public monies, however, can do immense harm: it can crowd out private investments, distort private incentives and help foreclosing markets. In any case, it deviates scarce funds from those who need them most. Therefore, regulation of state aid and public procurement is just as essential as regulation against the abuse of market dominance by private capital. State monopolies have been another public cause of economic exploitation until the recent past. Besides poor quality of service, consumer bondage within state monopolies used to entail much higher prices for services compared to liberalised markets in other jurisdictions. After liberalisation though, complex and well-adjusted regulation is crucial to induce functioning competition and to allocate the welfare benefits from liberalisation. Keywords: abuse of market dominance, liberalisation, state aid, states monopolies, regulation

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Edited by Pier L. Parcu, Giorgio Monti and Marco Botta

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Pier Luigi Parcu, Giorgio Monti and Marco Botta

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Helen Yu

Chapter 1 introduces the problem with respect to the current drug development process. The integrated drug discovery model is introduced as a potential solution to bridge the translational gap by achieving proof of concept as a way to demonstrate the clinical and commercial viability of basic research. However, this collaboration between industry and public research organizations may give rise to a violation of competition law due to anticompetitive or exclusionary conduct, such as but not limited to, exclusivity agreements with industry partners, grant back restrictions, and refusal to license to third parties. Furthermore, although the bringing together of complementary skills and assets in a collaboration between industry and integrated drug discovery organizations may facilitate innovation by enhancing efficiency and reducing expenditure, the number and ability of potential market actors to enter the market may be limited by such collaboration. In other words, the exercise of intellectual property rights may give rise to anticompetitive effects under certain circumstances.
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Lahcen Achy and Susan Joekes

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Edited by Lahcen Achy and Susan Joekes

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  • New Horizons in Competition Law and Economics series

Barbora Jedlicková

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  • New Horizons in Competition Law and Economics series

Barbora Jedlicková

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  • New Horizons in Competition Law and Economics series

Barbora Jedlicková