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Squeezing the last drop out of your suppliers: an empirical study of market-based purchasing policies for generic pharmaceuticals
2017 (English)In: Oxford Bulletin of Economics and Statistics, ISSN 0305-9049, E-ISSN 1468-0084Article in journal (Refereed) Accepted
Abstract [en]

We study the effect of the degree of exclusivity for the lowest bidder on the average price of generic pharmaceuticals in the short and long terms. Our results indicate that a 1-percentage-point gain in market share of the lowest bidder reduces average costs by 0.2% in the short term and 0.8% in the long term, but also reduces the number of firms by 1%. We find that reducing the number of firms has a strong positive (and hence counteracting) effect on average prices, a 1% reduction raising prices by approximately 1%.

Place, publisher, year, edition, pages
2017.
Keyword [en]
Pharmaceutical industry, generic competition, generic drugs, brand-name drugs
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:umu:diva-131627OAI: oai:DiVA.org:umu-131627DiVA: diva2:1075219
Funder
Swedish Competition Authority
Available from: 2017-02-17 Created: 2017-02-17 Last updated: 2017-02-17

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Granlund, David
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CiteExportLink to record
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Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf