scholarly journals Credence goods and market power: an econometric study on the Brazilian pharmaceutical industry

2003 ◽  
Vol 33 (4) ◽  
pp. 601-638
Author(s):  
Eduardo P. S. Fiuza ◽  
Marcos de B. Lisboa
Keyword(s):  
Pharmaceutical Industry ◽  
Credence Goods ◽  
Market Segment ◽  
Market Failures ◽  
Micro Data ◽  
Economic Literature ◽  
Relative Prices ◽  
Drug Prices ◽  
Branded Drugs ◽  
Econometric Study

Bearing in mind the market failures pointed out by the economic literature and following the international empirical evidence, and based on original micro data of the Brazilian pharmaceutical industry in the late 1990s, this article attempts to relate empirically drug prices in Brazil to some explaining variables. We find that, similarly to previous U.S. estimations, leading branded drugs accommodated share growth of the followers, turning towards a more inelastic market segment and raising their prices. On followers, in turn, a fall of the concentration index in a market had ambiguous effects: if due to reduced leader power, followers raised their relative prices; if due to a tougher competition within the fringe, their relative prices tended to go down.

scholarly journals THE NEED FOR STATE INTERVENTION IN THE ECONOMY AND IN PARTICULAR IN THE AGRICULTURAL SECTOR - ARGUMENTS FOR AND AGAINST

2019 ◽  
Vol 17 (Suppl.1) ◽  
pp. 440-444
Author(s):  
Darina Stoyanova
Keyword(s):  
Imperfect Competition ◽  
Mixed Type ◽  
Agricultural Sector ◽  
State Intervention ◽  
Developed Countries ◽  
The State ◽  
Market Failures ◽  
Economic Literature ◽  
Policies And Measures ◽  
Made In

THE PURPOSE of the present research is to examine the main author's opinions regarding the state policy and its intervention in the economy and in particular in the agricultural sector, and on this basis to draw out, systematize and summarize the main directions and arguments for and against the intervention of the state in the economy. METHODS: Based on a literature review should be grouped the different opinions of the authors studied this problem. We should make a comparative analysis of the negative and positive aspects of state intervention on the economy and taking into account the specifics of the agricultural sector. RESULTS: As a result of the research are summarized and analyzed the main tendencies and opinions about the need for state intervention in the economy. CONCLUSIONS: From the analysis made in the study, there is no unambiguous vision in the economic literature regarding the need of state intervention in the economy and agricultural sector. Despite all the arguments that are drawn against the state support, the state through its policies and measures intervenes in the financial and credit markets. Factors have been put forward to support the need of state intervention to prevent market failures such as monopolization of production, imperfect competition and others. Highlighted are examples of highly developed countries where the mixed type of governance and adequate state intervention positively affect the economy.

Introduction

2021 ◽  
pp. 3-13
Author(s):  
Neumann Peter J. ◽  
Cohen Joshua T. ◽  
Ollendorf Daniel A
Keyword(s):  
Pharmaceutical Industry ◽  
Prescription Drug ◽  
Prescription Drugs ◽  
Health Expenditures ◽  
Drug Spending ◽  
Drug Pricing ◽  
Pricing Policies ◽  
Drug Prices ◽  
Financial Difficulties ◽  
Prescription Drug Spending

The pharmaceutical industry has produced wondrous scientific advances, but the progress has come at a cost. US prescription drug spending has increased faster in most recent years than other categories of health and now comprises roughly one-sixth of total health expenditures. Rising costs strain already stretched public budgets. Increasing patient out-of-pocket spending for deductibles and coinsurance has created financial difficulties for many individuals and their families, particularly among the sickest patients. The dueling trends of scientific breakthroughs and ever-rising spending present enduring challenges. On its own, rising spending would not be so concerning, but evidence suggests that drug prices often do not reflect the benefits they provide. Thus, there is an imperative to measure the value of prescription drugs and incorporate such measures into drug pricing policies.

Drug prices—The government and the pharmaceutical industry

1986 ◽  
Vol 25 (6) ◽  
pp. 671-673
Author(s):  
T. Cantopher ◽  
J.Guy Edwards ◽  
S. Olivieri
Keyword(s):  
Pharmaceutical Industry ◽  
Drug Prices ◽  
The Government

scholarly journals The Systemic Nature of the Global Crisis and Some Principles for Tackling It

2020 ◽  
pp. 55-72
Author(s):  
Christian Ghymers
Keyword(s):  
Climate Change ◽  
Market Failures ◽  
Economic Democracy ◽  
Global Crisis ◽  
Relative Prices ◽  
Practical Solution ◽  
Economic Mechanism ◽  
Major Market ◽  
Social Returns ◽  
Systemic Nature

AbstractThis chapter argues that climate change, the global macroeconomic crisis and the weakening of democracy are all expressions of the same incoherence in the present global economic system, which operates on the basis of major ‘market failures’ that are characterized by the same kind of economic mechanism based on biased relative prices for fossil energies, financial returns and social cohesion. Therefore, the only practical solution is to make sustainable production profitable by first correcting these relative prices in order to re-establish a systemic convergence between private and social returns and between political and economic democracy.

Developing a Legislative Pathway for Biosimilars in the United States

2009 ◽  
Vol 6 (4) ◽  
pp. 295-302
Author(s):  
Henry A. Waxman
Keyword(s):  
United States ◽  
Pharmaceutical Industry ◽  
The United States ◽  
High Price ◽  
Approval Process ◽  
Generic Competition ◽  
Drug Prices ◽  
Life Saving ◽  
Lower Drug ◽  
The Eu

Biologies are one of the fastest growing, most important, and most expensive segments of the pharmaceutical industry. The high price of biologies in the United States is making these life-saving drugs unaffordable for many Americans and creating unsustainable burdens on purchasers. While the EU has created an abbreviated approval process for biosimilars, there is no explicit legislative pathway in the United States that would enable generic competition for biologics. The Promoting Innovation and Access to Life-Saving Medicine Act would provide such a generic pathway for biologics, using competition to lower drug prices. The bill provides an appropriate balance between access to affordable medicine and retaining incentives for innovation.

Foreign Direct Investment in the Pharmaceutical Industry: Why Singapore and not Hong Kong

2015 ◽  
Vol 10 (2) ◽  
pp. 235-257
Author(s):  
Bryan MERCURIO ◽  
Daria KIM
Keyword(s):  
Decision Making ◽  
Foreign Direct Investment ◽  
Hong Kong ◽  
Pharmaceutical Industry ◽  
Direct Investment ◽  
Asia Pacific ◽  
Economic Literature ◽  
Critical Difference ◽  
Legal Policy ◽  
Regulatory Frameworks

AbstractThis article began as mere curiosity over what appeared to be a paradox – Singapore and Hong Kong share countless economic and geopolitical similarities and compete vigorously for foreign direct investment (FDI), yet only the former has become a pharmaceutical hub while the latter struggles to attract any FDI in the sector. To find the reason for the “drastic” difference in pharmaceutical FDI, we compare the economic, legal, policy, and regulatory frameworks of the two jurisdictions focusing on the factors that have been identified in the economic literature as having the most relevance for FDI decision-making. The analysis discounts economic and legal factors before finding variances in policy and regulatory frameworks as the critical difference accounting for the disparity in the pharmaceutical FDI. Given that Hong Kong occasionally considers transforming itself into the “pharmaceutical centre for the Asia-Pacific”, this article calls for a change in policy approach and strategy before this aspiration is considered more realistically.

Drug Prices and Research and Development Investment Behavior in the Pharmaceutical Industry

2005 ◽  
Vol 48 (1) ◽  
pp. 195-214 ◽  
Author(s):  
Carmelo Giaccotto ◽  
Rexford E. Santerre ◽  
John A. Vernon
Keyword(s):  
Pharmaceutical Industry ◽  
Research And Development ◽  
Investment Behavior ◽  
Drug Prices
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