Pharmaceutical pricing in a regulated market

Ekelund, MatsStockholm School of Economics,Handelshögskolan i Stockholm (författare)

LIBRIS-ID:oai:hhs.se:1155007050006056
https://research.hhs.se/esploro/outputs/journalArticle/Pharmaceutical-pricing-in-a-regulated-market/991001480384706056URI
https://doi.org/10.1162/003465303765299828DOI

Included in the thesis: 1. Competition and innovation in the Swedish pharmaceutical market 2. Essays on altruism and health care markets
We compare how new pharmaceuticals are priced in the price-regulated Swedish market with how they are priced in the U.S. market, as studied by Lu and Comanor (1998). We collect a data set consisting of all new chemical entities (NCEs) launched in Sweden between 1987 and 1997, and test the same models as Lu and Comanor. In line with their results, we find that introductory prices depend on the degree of therapeutic innovation. Contrary to the results from the U.S. market, Swedish real prices for NCEs fall substantially over time for all classes of therapeutic innovation. Also contrary to the findings of Lu and Comanor, we find no effect of the presence of branded substitutes on either introduction prices or price dynamics. Our results indicate that the price regulation discourages price competition between brandname drugs.

Persson, BjörnStockholm School of Economics,Handelshögskolan i Stockholm (författare)
Handelshögskolan i StockholmStockholm School of Economics (creator_code:org_t)

Ingår i:Review of Economics and Statistics: Massachusetts Institute of Technology Press (MIT Press): Economics Titles85:2, s. 298-3061530-91420034-6535

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