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HOW MUCH IS BIODIVERSITY WORTH?
CAPTURING THE VALUE OF PHARMACEUTICAL PROSPECTING
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Annual value benefits biodiversity and species biodiversity protection biotic samples blockbuster drugs capturing the value chemical collection of biotic commercial collectors contracts contractual arrangements Costa Rica costs of biodiversity costs of protection derived developing countries drug development economic value Edward B Barbier Environmental Economics Environmental Economics Centre estimates explored Farnsworth and Soejarto fees figures funding gross returns INBio incentives indicate inputs investment London Environmental Economics marginal market failure market for biotic marketable drug microbial million monopoly National Biodiversity Institute natural products non-rival OECD patent protection percent pharmaceutical companies pharmaceutical industry pharmaceutical products pharmaceutical prospecting pharmaceutical R&D pharmaceutical value plant-derived drugs present value Principe 1989b private costs prospecting activities regulatory approval research discovery resource revenues royalty model screening programs secondary metabolites Section social costs social returns sources species information synthetic taxonomic information taxonomic institutions Tropical untested species valuation value of biodiversity