Summarised in this publication are the main points and conclusions from a discussion facilitated by OHE that focused on innovation in the pharmaceutical industry. Participants included representatives of the pharmaceutical industry, health technology assessment bodies and academic economists.

Addressed in particular were the extent, importance and tractability of any problems arising from innovation path dependency in health technologies.  Elements of the policy and research agendas that affect the amount and type of innovation were debated.  The group noted that more research is essential both to better understand the nature of innovation and to more fully understand how companies’ R&D investment decisions are affected in practice by pricing and reimbursement decision and health technology assessment.