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Abstract
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- 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%.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Keyword
- Pharmaceutical industry
- generic competition
- generic drugs
- brand-name drugs
- nationalekonomi
- Economics
- General Microdata Analysis - retail
Publication and Content Type
- ref (subject category)
- art (subject category)
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