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dc.contributor.authorBrekke, Kurt R.en
dc.contributor.authorKoenigbauer, Ingriden
dc.contributor.authorStraume, Odd Runeen
dc.date.accessioned2006-10-18-
dc.date.accessioned2009-07-28T08:13:08Z-
dc.date.available2009-07-28T08:13:08Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/25870-
dc.description.abstractWe consider a therapeutic market with potentially three pharmaceutical firms. Two of the firms offer horizontally differentiated brand-name drugs. One of the brand-name drugs is a new treatment under patent protection that will be introduced if the profits are sufficient to cover the entry costs. The other brand-name drug has already lost its patent and faces competition from a third firm offering a generic version perceived to be of lower quality. This model allows us to compare generic reference pricing (GRP), therapeutic reference pricing (TRP), and no reference pricing (NRP). We show that competition is strongest under TRP, resulting in the lowest drug prices (and medical expenditures). However, TRP also provides the lowest profits to the patent-holding firm, making entry of the new drug treatment least likely. Surprisingly, we find that GRP distorts drug choices most, exposing patients to higher health risks.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1825en
dc.subject.jelI11en
dc.subject.jelL13en
dc.subject.jelL51en
dc.subject.jelL65en
dc.subject.ddc330en
dc.subject.stwPharmazeutisches Produkten
dc.subject.stwPreiswettbewerben
dc.subject.stwProduktdifferenzierungen
dc.subject.stwTheorieen
dc.titleReference pricing of pharmaceuticals-
dc.typeWorking Paperen
dc.identifier.ppn518892867en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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