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Price competition in pharmaceuticals – evidence from 1303 Swedish markets
Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.ORCID-id: 0000-0003-4467-8676
2017 (Engelska)Konferensbidrag, Enbart muntlig presentation (Övrigt vetenskapligt)
Abstract [en]

We study the short- and long-term price effects of the number of competing firms, using panel-data on 1303 distinct pharmaceutical markets for 78 months. We use actual transaction prices in an institutional setting with little room for non-price competition and where simultaneity problem can be addressed effectively. In the long term, the price of generics is found to decrease by 81% when the number of firms selling generics with the same strength, form and similar package sizes is increased from 1 to 10. It is nearly only competition on this fine-grained level that matters. For example, the price effect of firms selling other products with the same active substance, but with different package size, form, or strength, is only a tenth as large. Half of the price reductions take place immediately and 70% within three months. Also, prices of originals are found to react to competition, but far less and much slower; going from 1 to 10 firms selling nearly identical generics reduces prices by 29% in the long term but by only 2% in the short term.

Ort, förlag, år, upplaga, sidor
2017.
Nyckelord [en]
Price competition, dynamic, adjustment, pharmaceutical industry, generic drugs, brand-name drugs
Nationell ämneskategori
Nationalekonomi
Forskningsämne
nationalekonomi
Identifikatorer
URN: urn:nbn:se:umu:diva-141140OAI: oai:DiVA.org:umu-141140DiVA, id: diva2:1152698
Konferens
44th Annual Conference of the European Association for Research in Industrial Economics (EARIE), Maastricht, The Netherlands, August 21 - September 2, 2017
Forskningsfinansiär
Konkurrensverket, 395/2015Tillgänglig från: 2017-10-26 Skapad: 2017-10-26 Senast uppdaterad: 2024-01-18Bibliografiskt granskad

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Granlund, DavidBergman, Mats

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Granlund, DavidBergman, Mats
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Totalt: 256 träffar
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