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Squeezing the last drop out of your suppliers: an empirical study of market-based purchasing policies for generic pharmaceuticals
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.ORCID iD: 0000-0003-4467-8676
2017 (English)In: Oxford Bulletin of Economics and Statistics, ISSN 0305-9049, E-ISSN 1468-0084, , 28 p.Article in journal (Refereed) Epub ahead of print
Abstract [en]

We study the effect of the degree of exclusivity for the lowest bidder on the averageprice of generic pharmaceuticals in the short and long terms. Our results indicate that a1-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. , 28 p.
Keyword [en]
Pharmaceutical industry, generic competition, generic drugs, brand-name drugs
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:umu:diva-121231DOI: 10.1111/obes.12180OAI: oai:DiVA.org:umu-121231DiVA: diva2:931632
Funder
Swedish Competition Authority
Available from: 2016-05-30 Created: 2016-05-30 Last updated: 2017-10-20

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The full text will be freely available from 2019-04-05 00:00
Available from 2019-04-05 00:00

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CiteExportLink to record
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Citation style
  • apa
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Language
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Output format
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