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Squeezing the last drop out of your suppliers: An empirical study of market-based purchasing policies for generic pharmaceuticals
Södertörn University .
Umeå University.
Dalarna University, School of Technology and Business Studies, Economics.
2017 (English)In: Oxford Bulletin of Economics and Statistics, ISSN 0305-9049, E-ISSN 1468-0084, Vol. 79, no 6, p. 969-996Article in journal (Refereed) Published
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. Vol. 79, no 6, p. 969-996
Keywords [en]
Pharmaceutical industry, generic competition, generic drugs, brand-name drugs.
National Category
Economics
Research subject
Complex Systems – Microdata Analysis, General Microdata Analysis - retail
Identifiers
URN: urn:nbn:se:du-23964DOI: 10.1111/obes.12180ISI: 000414340300003Scopus ID: 2-s2.0-85017351221OAI: oai:DiVA.org:du-23964DiVA, id: diva2:1068559
Available from: 2017-01-25 Created: 2017-01-25 Last updated: 2021-11-12Bibliographically approved

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Rudholm, Niklas

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  • de-DE
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  • nn-NB
  • sv-SE
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