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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.
(English)In: Oxford Bulletin of Economics and Statistics, ISSN 0305-9049, E-ISSN 1468-0084Article in journal (Refereed) In press
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%.

Keyword [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-23964ScopusID: 2-s2.0-85017351221OAI: oai:DiVA.org:du-23964DiVA: diva2:1068559
Available from: 2017-01-25 Created: 2017-01-25 Last updated: 2017-04-24Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
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  • de-DE
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Output format
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