Pricing And Welfare Implications Of Parallel Imports In The Pharmaceutical Industry
DOWNLOAD
Download Pricing And Welfare Implications Of Parallel Imports In The Pharmaceutical Industry PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Pricing And Welfare Implications Of Parallel Imports In The Pharmaceutical Industry book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Pricing And Welfare Implications Of Parallel Imports In The Pharmaceutical Industry
DOWNLOAD
Author : Catalina Bordoy
language : en
Publisher:
Release Date : 2003
Pricing And Welfare Implications Of Parallel Imports In The Pharmaceutical Industry written by Catalina Bordoy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Impact Of Parallel Imports On Pricing And Product Launch Decisions In Pharmaceutical Industry
DOWNLOAD
Author : Mehmet Sekip Altug
language : en
Publisher:
Release Date : 2017
Impact Of Parallel Imports On Pricing And Product Launch Decisions In Pharmaceutical Industry written by Mehmet Sekip Altug and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Product launch and pricing decisions in the pharmaceutical industry across different countries are complex. Although introducing a newly developed drug to every country is beneficial for patients worldwide, doing so may have adverse implications for drug developers, such as the emergence of parallel imports. We study a pharmaceutical firm that already introduced a pioneering drug in its home country, where the product is protected by patent rules. The firm decides whether to launch in a second country in the same region, where parallel import between these two countries is feasible and profitable for the parallel importer. We characterize the joint pricing and product launch decision. We show the firm chooses one of three strategies: (i) launch and accommodate parallel import, (ii) launch and deter parallel import, and (iii) not launch. We show that firms are more likely not to launch the drug when the drug price is determined through a negotiation between the firm and the government. We discuss how insurance coverage, market size, quality perception of the parallel imported drug, and valuations affect these strategies. We then study the impact of launch and pricing decisions on social welfare and discuss policy implications for the regulators and potential strategies for the firm to mitigate the negative effects of a parallel import threat. We also study the impact of perfect and imperfect competition among parallel import firms on pharmaceutical firm's price and launch decisions. Finally, we discuss a common practice of distributing rebates in the home country as a post-launch strategy, and characterize the optimal rebate amount to deter or accommodate parallel import.
External Reference Pricing And Parallel Imports Of Pharmaceuticals
DOWNLOAD
Author : Foad Iravani
language : en
Publisher:
Release Date : 2020
External Reference Pricing And Parallel Imports Of Pharmaceuticals written by Foad Iravani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Governments across the world constantly use a variety of measures to contain drug costs in order to increase patient access to critical medications. External Reference Pricing (ERP), or international price comparison, is a commonly employed policy to control prices of pharmaceuticals. ERP uses the price(s) of a medicinal product in one or several countries in order to derive a benchmark or reference price for the purposes of setting the price of the product in a given country. Despite potential drawbacks, empirical studies show ERP has been successful in reducing drug prices. Another strategy that can reduce drug prices is legalizing parallel imports of drugs from low-price countries. Motivated by the differences between government policies and the absence of national price management policies in the U.S., in this paper we compare the effects of implementing ERP or authorizing parallel imports on firm profit and different social welfare measures. We find that authorizing parallel imports can result in higher firm profit and/or social welfare than using ERP. We also examine, in a decentralized supply chain, two variations of ERP that are used in practice, the ex-factory-based ERP and the pharmacy purchase price (PPP)-based ERP. We show that despite the ex-factory-based ERP being more common, PPP-based ERP can increase both firm profits and social welfare. Therefore, governments should consider using PPP-based ERP policies. Our findings help generate insights for ongoing policy discussions around measures for controlling drug prices in the U.S.
Pharmaceutical Parallel Trade In The Uk
DOWNLOAD
Author : Panos Kanavos
language : en
Publisher: Basic Civitas Books
Release Date : 2005-01-01
Pharmaceutical Parallel Trade In The Uk written by Panos Kanavos and has been published by Basic Civitas Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-01-01 with Medical categories.
Parallel Imports Of Pharmaceutical Products In The European Union
DOWNLOAD
Author : Keith Eugene Maskus
language : en
Publisher:
Release Date : 1999
Parallel Imports Of Pharmaceutical Products In The European Union written by Keith Eugene Maskus and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
July 2001 Parallel imports are legitimately produced goods imported legally into a country without the authorization of a trademark, copyright, or patent holder. In the European Union, so long as a pharmaceutical manufacturer has placed a good on the market voluntarily, the principle of free movement of goods allows individuals or firms within the EU to trade goods across borders without the consent of the producer. What is the effect of these parallel imports? The point of parallel imports of pharmaceuticals is arbitrage between countries with different prices. For several years, an important issue in the European Union has been the evident conflict between differing price regulations in the member states, on the one hand, and the consequences of parallel trade, on the other. In the EU, so long as the manufacturer has placed the good on the market voluntarily, the principle of free movement of goods allows individuals or firms within the EU to trade goods across borders without the consent of the producer. In this context, Ganslandt and Maskus study the effects of parallel trade in the pharmaceutical industry. They develop a model in which an original manufacturer competes in its home market with parallel-importing firms. The two key hypotheses in their theoretical analysis are these: First, if the potential for parallel imports is unlimited, the manufacturer chooses deterrence and international prices converge. Second, with endogenously limited arbitrage, the manufacturing firm accommodates and the price in the home market falls as the volume of parallel trade rises. The authors test their hypotheses on data from the Swedish market for 1995-98. Before 1995 Sweden prohibited parallel imports of pharmaceutical products, but entry into the European Union, on January 1, 1995, required Sweden to allow them. Simple empirical tests favor the accommodation hypothesis with a time lag. Using data from Sweden, Ganslandt and Maskus find that the prices of drugs subject to competition from parallel imports increased less than those for other drugs between 1995 and 1998. Roughly three-fourths of this effect can be attributed to the lower prices of parallel imports and one-fourth to lower prices charged by the manufacturing firm. Econometric analysis finds that rents to parallel importers (or resource costs in parallel trade) could be more than the gain to consumers from lower prices. This paper is a product of Trade, Development Research Group. The authors may be contacted at [email protected] or [email protected].
Vertical Price Control And Parallel Imports
DOWNLOAD
Author : Keith Eugene Maskus
language : en
Publisher:
Release Date : 2000
Vertical Price Control And Parallel Imports written by Keith Eugene Maskus and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Foreign trade regulation categories.
Parallel imports are genuine products brought into a country without the authorization of the copyright, patent, or trademark owner. Countries vary considerably in their legal treatment of parallel imports, as determined by their choice of exhaustion doctrine. A new model analyzes parallel imports a a response to vertical pricing arrangements between a rights holder ("manufacturer") and a foreign distributor.
The Conflicts Between Parallel Trade And Product Access And Innovation
DOWNLOAD
Author : Harvey E. Bale
language : en
Publisher:
Release Date : 2015
The Conflicts Between Parallel Trade And Product Access And Innovation written by Harvey E. Bale and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
In this paper, the case is laid out for restricting parallel trade in products protected by intellectual property rights, and pharmaceuticals in particular. The paper responds to three arguments made in favor of open parallel trade by its proponents, focusing on F. Abbott`s First Report (Final) on the Subject of Parallel Importation, [Journal of International Economic Law 1, 607-636]. First, it is argued that in the case of patented products with high fixed costs (e.g., pharmaceuticals), parallel trade may decrease global economic welfare. Attention is drawn to price controls within the EU member states as a distortion which is inconsistent with open market principles, yet not adequately accounted for by EU regulatory organs in the context of its intra-Union exhaustion rules. It is also suggested that rules restricting parallel trade are a necessary corollary to pharmaceutical price discrimination in favor of developing countries, which practice discrimination is advocated by international institutions such as the World Health Organization. Finally, the paper indicates that restrictions on parallel trade in the pharmaceutical sector are necessary to protect the public against risks arising from inadequate supervision of the secondary market, such as risks from inappropriate repackaging and inadequate storage and handling procedures, and counterfeit products.
Making Medicines Affordable
DOWNLOAD
Author : National Academies of Sciences, Engineering, and Medicine
language : en
Publisher: National Academies Press
Release Date : 2018-03-01
Making Medicines Affordable written by National Academies of Sciences, Engineering, and Medicine and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-01 with Medical categories.
Thanks to remarkable advances in modern health care attributable to science, engineering, and medicine, it is now possible to cure or manage illnesses that were long deemed untreatable. At the same time, however, the United States is facing the vexing challenge of a seemingly uncontrolled rise in the cost of health care. Total medical expenditures are rapidly approaching 20 percent of the gross domestic product and are crowding out other priorities of national importance. The use of increasingly expensive prescription drugs is a significant part of this problem, making the cost of biopharmaceuticals a serious national concern with broad political implications. Especially with the highly visible and very large price increases for prescription drugs that have occurred in recent years, finding a way to make prescription medicinesâ€"and health care at largeâ€"more affordable for everyone has become a socioeconomic imperative. Affordability is a complex function of factors, including not just the prices of the drugs themselves, but also the details of an individual's insurance coverage and the number of medical conditions that an individual or family confronts. Therefore, any solution to the affordability issue will require considering all of these factors together. The current high and increasing costs of prescription drugsâ€"coupled with the broader trends in overall health care costsâ€"is unsustainable to society as a whole. Making Medicines Affordable examines patient access to affordable and effective therapies, with emphasis on drug pricing, inflation in the cost of drugs, and insurance design. This report explores structural and policy factors influencing drug pricing, drug access programs, the emerging role of comparative effectiveness assessments in payment policies, changing finances of medical practice with regard to drug costs and reimbursement, and measures to prevent drug shortages and foster continued innovation in drug development. It makes recommendations for policy actions that could address drug price trends, improve patient access to affordable and effective treatments, and encourage innovations that address significant needs in health care.
Studies On Competition And Antitrust Issues In The Pharmaceutical Industry
DOWNLOAD
Author : Ann-Kathrin Lehnhausen
language : en
Publisher: Springer
Release Date : 2016-11-14
Studies On Competition And Antitrust Issues In The Pharmaceutical Industry written by Ann-Kathrin Lehnhausen and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-14 with Business & Economics categories.
This publication examines how drug originator manufacturers manage to shield their products from competition. It characterizes the pharmaceutical industry in detail and analyzes actions that violate antitrust laws in the USA and/or the European Union. The publication examines, for example, pay-for-delay strategies, market foreclosure, resale price maintenance, but also mergers and acquisitions, while taking into account market specificities such as the unique research and development process. The study explains why drug prices sometimes remain at elevated levels even after the drug’s patent protection has expired. Knowing the characteristics of such anticompetitive strategies helps customers such as health insurance companies to develop effective counter-strategies.
Who Guideline On Country Pharmaceutical Pricing Policies
DOWNLOAD
Author :
language : en
Publisher: World Health Organization
Release Date : 2020-09-29
Who Guideline On Country Pharmaceutical Pricing Policies written by and has been published by World Health Organization this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-29 with Business & Economics categories.
In recent years, high prices of pharmaceutical products have posed challenges in high- and low-income countries alike. In many instances, high prices of pharmaceutical products have led to significant financial hardship for individuals and negatively impacted on healthcare systems' ability to provide population-wide access to essential medicines. Pharmaceutical pricing policies need to be carefully planned, carried out, and regularly checked and revised according to changing conditions. Strong, well-thought-out policies can guide well-informed and balanced decisions to achieve affordable access to essential health products. This guideline replaces the 2015 WHO guideline on country pharmaceutical pricing policies, revised to reflect the growing body of literature since the last evidence review in 2010. This update also recognizes country experiences in managing the prices of pharmaceutical products.