Price Competition in Pharmaceuticals: The Case of Anti‐infectives

Steven N. Wiggins · Robert Maness

118 citations0/0 files storedEconomic Inquiry

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Pharmaceutical Economics and Policy Merger and Competition Analysis Consumer Market Behavior and Pricing

Abstract

A fundamental question in industrial organization regards the relationship between price and the number of sellers. This relationship has been particularly important in the pharmaceutical industry where legislative changes were specifically designed to foster competition. Previous research on the pharmaceutical industry has shown generic entry has a mixed impact; generic prices fall rapidly with generic entry, whereas branded prices tend to increase or decrease only slightly. Using more complete data, focused on one segment of the pharmaceutical industry—anti‐infectives—we find that the relationship between pharmaceutical prices and the number of sellers is more like that found in other industries. (JEL L11, L65, D4)

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References

1989Handbook of Industrial Organization 1991Entry and Competition in Concentrated Markets 1978Entry Deterrence in the Ready-to-Eat Breakfast Cereal Industry 1992Brand Loyalty, Entry, and Price Competition in Pharmaceuticals after the 1984 Drug Act 1982The estimation of the degree of oligopoly power 1983A Study of Cartel Stability: The Joint Executive Committee, 1880-1886 1989A study of cartel stability: the Joint Executive Committee, 1880–1886 1991Patent Expiration, Entry, and Competition in the U.S. Pharmaceutical Industry

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