scholarly journals Innovation-and-Learning-Adjusted Price Indexes for Prescription Drugs

2004 ◽  
Vol 19 (1) ◽  
pp. 31-55
Author(s):  
Sangin Park
Keyword(s):  
Prescription Drugs ◽  
Bayesian Learning ◽  
Generic Drugs ◽  
Antidepressant Drugs ◽  
Annual Growth Rate ◽  
Branded Drug ◽  
Quality Adjustment ◽  
Price Indexes ◽  
Innovative Products ◽  
Advertising Exposure

In general, prescription drugs have an unobservable quality prior to consumption, which is called an 'experience characteristic'. Consumers learn these experience characteristics from both consumption experience and advertising exposure. Based on the Bayesian learning process of experience characteristics and the characteristics approach to demand functions, this paper proposes innovation-and-learning-adjusted price indexes for prescription drugs. This structural approach not only resolves the quality adjustment of new molecules but also avoids arbitrary assumptions on the link-in of generic drugs to the originator branded drug. The suggested price indexes are applied to the data for antidepressant drugs during the years 1980-1995. We have found; (i) the average annual growth rate of the focal price index is about -9.5%, which suggests that the existing price indexes for prescription drugs may seriously overstate the rate of inflation in arapidly growing market with the entry of innovative products; and (ii) consumers' learning about experience characteristics were substantial especially after active generic entry in 1986 and the entry of Prozac in 1988.

scholarly journals The Price to Consumers of Generic Pharmaceuticals: Beyond the Headlines

2020 ◽  
pp. 107755872092110
Author(s):  
Richard G. Frank ◽  
Andrew Hicks ◽  
Ernst R. Berndt
Keyword(s):  
Prescription Drugs ◽  
Price Index ◽  
Generic Drugs ◽  
Consumer Price Index ◽  
The United States ◽  
Out Of Pocket Payments ◽  
Price Indexes ◽  
The Media ◽  
Generic Pharmaceuticals ◽  
Total Price

Generic drug prices have received a great deal of attention in the past few years. Many agencies have conducted investigations into the pricing patterns for generic drugs. Price spikes for several specific generic drugs have also been widely reported in the media. Today, 90% of all retail prescriptions sold in the United States are generic drugs. Thus, these prices affect affordability of prescription drugs. We construct two Laspeyres chained price indexes for generic prescription drugs. The first reflects direct out-of-pocket payments by consumers to pharmacies for dispensing generic prescription drugs. The second measures the total price received by the pharmacy (the direct out-of-pocket payment plus the price paid to the pharmacy by the insurer). The chained direct out-of-pocket consumer price index we construct shows a roughly 50% decline for generic prescription drugs between 2007 and 2016. The total consumer price index for generic prescription drugs fell by nearly 80%.

Product Innovation and Price Measurement

2018 ◽  
Author(s):  
Paul Stoneman ◽  
Eleonora Bartoloni ◽  
Maurizio Baussola
Keyword(s):  
Product Innovation ◽  
Common Knowledge ◽  
Consumer Price Index ◽  
The United States ◽  
Electronic Products ◽  
Quality Adjustment ◽  
Price Indexes ◽  
Price Measurement ◽  
The Impact ◽  
Methodological Guidelines

This chapter addresses how innovation may affect price measurement—a key issue for the accuracy of measures of principal economic indicators and a long-discussed one. Two main changes related to product innovation are important in this context: new goods (which are often cheaper) are driving old goods out of the market; and new products often offer improved quality. The literature suggests that a failure to properly account for these has added 0.8 percentage points per year to the measured Consumer Price Index in the United States. Quality adjustment approaches in all OECD countries have converged towards general methodological guidelines that represent a common knowledge base. The hedonic methodology is applied in a significant number of countries and for specific categories of goods, in particular electronic products. The use of this approach is exemplified and the impact on price indexes evaluated.

Prescription Drug and Healthcare Use Among Swedish Patients Treated with Antidepressants

1995 ◽  
Vol 29 (6) ◽  
pp. 566-572 ◽  
Author(s):  
Kerstin Al Bingefors ◽  
Dag Gl Isacson ◽  
Lars Von Knorring ◽  
Björn Smedby
Keyword(s):  
Drug Use ◽  
Ambulatory Care ◽  
Prescription Drug ◽  
Prescription Drugs ◽  
Antidepressant Treatment ◽  
Antidepressant Drugs ◽  
Cross Sectional Study ◽  
Care Hospital ◽  
Cross Sectional ◽  
Prescription Drug Use

Objective: To analyze healthcare and prescription drug use among patients taking and those not taking antidepressant drugs in a Swedish community. Design: Cross-sectional study. Setting: General population of the rural Swedish municipality Tierp of approximately 20 000 inhabitants. Participants: All residents of Tierp aged 25 years or older during 1988. Main Outcome Measures: Mean number of ambulatory care visits, hospital bed days, and prescriptions per person; proportion of those taking prescription drugs in different pharmacologic classes. Results: Patients treated with antidepressant drugs had a significantly (p < 0.05) greater use of ambulatory care, hospital care, and prescription drugs than those who did not take antidepressants in the study population. They also had an increased frequency of use of prescription drugs from virtually all pharmacologic classes. Furthermore, the risk for polypharmacy was high in patients treated with antidepressant medications. Conclusions: Those who took antidepressant drugs consumed more health services and prescription drugs than did those not taking an antidepressant. Patients receiving antidepressant treatment may be at serious risk for iatrogenic disease and should be evaluated carefully with respect to concomitant drug use.

Therapeutic Equivalence and the Generic Competition Paradox

2012 ◽  
Vol 12 (1) ◽  
Author(s):  
Munirul Haque Nabin ◽  
Vijay Mohan ◽  
Aaron Nicholas ◽  
Pasquale M. Sgro
Keyword(s):  
Simple Model ◽  
Generic Drug ◽  
Generic Drugs ◽  
Large Body ◽  
Medical Community ◽  
Therapeutic Equivalence ◽  
Generic Competition ◽  
Branded Drug ◽  
Fda Approval ◽  
Generic Products

Abstract Following the passage of the Waxman-Hatch Act (1984), FDA approval for a generic drug requires the establishment of bio-equivalence between the generic drug and an FDA approved branded drug. However, a large body of evidence in the medical community suggests that bio-equivalence does not guarantee therapeutic equivalence; in some instances the lack of therapeutic equivalence can lead to fatal consequences for patients switching to generic products. In this paper, we construct a simple model to analyze the implications of therapeutic non-equivalence between branded and generic drugs. We show, theoretically and empirically, that this distinction can provide a plausible explanation of the generic competition paradox.

scholarly journals Generic Drugs Not as Safe as FDA Wants You to Believe

2019 ◽  
Vol 54 (3) ◽  
pp. 283-286 ◽  
Author(s):  
C. Michael White
Keyword(s):  
United States ◽  
Prescription Drugs ◽  
Generic Drugs ◽  
The United States ◽  
Drug Supply ◽  
Active Pharmaceutical Ingredients ◽  
Pharmaceutical Ingredients ◽  
Time Horizons ◽  
Long Time ◽  
Generic Products

Food and Drug Administration (FDA) rules for the production of prescription drugs are very rigorous and, if followed, guarantees a safe drug supply. For many years, foreign manufacturers have produced substandard generic products and active pharmaceutical ingredients and shipped them into the United States. If the FDA had inspected them with the same rigor as they do domestic manufacturers, they would have found many of these egregious deviations from ethical manufacturing much earlier. Although the FDA is finally stepping up the number of inspections, their current processes still rely on preannounced inspections with long time horizons, so quality issues can be temporarily corrected and documents altered or destroyed.

scholarly journals The Impact of Tiered-Pricing Framework on Generic Entry in Canada

2020 ◽  
Author(s):  
Wei Zhang ◽  
Huiying Sun ◽  
Daphne P. Guh ◽  
Larry D. Lynd ◽  
Aidan Hollis ◽  
...  
Keyword(s):  
Generic Drug ◽  
Prescription Drugs ◽  
Generic Drugs ◽  
Generic Entry ◽  
Tiered Pricing ◽  
Significant Difference ◽  
The Impact ◽  
Time Varying Covariates ◽  
Public Drug ◽  
Pricing Framework

Background: Generic drug prices have been capped at specified percentages of the interchangeable branded drug’s price by the Canadian provincial public drug plans since 1993. The Pan-Canadian Pharmaceutical Alliance, formed as a coalition by the provinces/territories in Canada, implemented an alternative approach, a tiered-pricing framework (TPF) for new generic drugs on April 1, 2014, under which the percentage varies with the number of generic firms in each market. We evaluate the impact of the TPF on generic entry, ie, listing in public drug plans in Canada. Methods: Our study compared the pre-TPF period (01/01/2012-03/31/2014) with the TPF period (04/01/2014- 06/30/2016). Prescription drugs from nine provincial public drug plans were grouped into a "market" if they had the same active ingredient and strength, route of administration, and dosage form. Each "market" was contestable by generics and met the eligibility criteria for TPF. At the "market" level, Cox proportional-hazards models with time-varying covariates were used to measure the impact of the TPF on the first generic listing in any provincial public drug plan in Canada relative to the first launch date worldwide. Results: A total of 189 markets in Canada were selected for the analyses. Generic drugs in small markets were more likely to be listed in Canada during the TPF period compared to the pre-TPF period (hazard ratio [HR], 95% CI: 3.81, 1.51-9.62). There was no significant difference in generic drug listings in large markets between the two policy periods. Conclusion: TPF speeds up generic entry in small markets and generates the benefits of generic competition while avoiding the pitfalls of the previously employed price-cap regulations.

Abuse Deterrent Formulations in Constraining the Abuse Potential of Prescription Medicines: A Myth or Truth

2021 ◽  
Vol 18 ◽  
Author(s):  
Parmita Phaugat ◽  
Suchitra Nishal ◽  
Rakhi Dhiman
Keyword(s):  
Pain Management ◽  
Prescription Drugs ◽  
Generic Drugs ◽  
Abuse Potential ◽  
Advantages And Disadvantages ◽  
Regulatory Bodies ◽  
Prescription Medicines ◽  
Management Approaches ◽  
Substantial Drop

Background: Diverse pain killers used for the management of varied categories of pain are being misused in order to have extreme pleasant effect by a large number of populations. To overcome the misuse of prescription drugs, regulatory bodies have given stress on development of abuse resistance. Methods: We studied numerous literatures: (1) Research and review papers including the guidelines for pain management, abuse, and abuse deterrence; (2) Description and categorization of pain along with the management approaches; (3) advantages and disadvantages of the abuse deterrent formulations were described. Results: Abuse deterrent formulations are the contemporary remedial treatment for pain with reduced prospects of being abused. But these comprise the huge expense in contrast to the generic drugs as well as the non-deterrent branded equivalents. Conclusion: Many challenges are faced throughout the development of abuse deterrent formulations. These formulations displayed substantial drop in abuse incidences but it may lead to other modes of abuse which may prove more harmful for the users.

scholarly journals Exploration of the Potential of Terrestrial and Marine Biodiversity for the Development of Local Nutraceutical Products: A Case for Mauritius

2021 ◽  
Vol 1 ◽  
pp. 3
Author(s):  
Hafsah Ramjane ◽  
Theeshan Bahorun ◽  
Brinda Ramasawmy ◽  
Deena Ramful-Baboolall ◽  
Navindra Boodia ◽  
...  
Keyword(s):  
Agricultural Development ◽  
Disease Risk ◽  
Small Island ◽  
Marine Biodiversity ◽  
Annual Growth Rate ◽  
Natural Health Products ◽  
Compound Annual Growth Rate ◽  
Innovative Products ◽  
Health Products ◽  
Nutraceutical Products

Nutraceuticals and natural health products globally represent one of the fastest growing sectors of research and development leading to novel products intended for disease risk reduction and human health promotion. The global nutraceutical market is expected to grow at a compound annual growth rate of 8.3% from 2020 to 2027 to reach USD 722.5 billion by 2027. There is a need to respond to this sector by exploring the local resources to target the production of innovative products from plant/marine biofactors with high prospects for commercial ventures. This paper explores the nutraceutical potentials enshrined in biodiversity values in a small island state in view to promote sustainable agricultural development to facilitate available resources for the development of regimen for the management of health and disease and in essence, pharmacotherapy. The reported phytochemical composition and pharmacological activities, of the terrestrial flora and marine organisms with high propensity for development and production of nutraceutical products will be discussed. Bioactive phytochemicals encompassing the immensely diverse groups of phenolic acids, flavonoids, terpenoids, alkaloids, possess therapeutic virtues including anti-diabetic, antihypertensive, anticancer, anti-inflammatory, and immunomodulatory attributes, all of which are highly relevant to the budding nutraceutical industry.

scholarly journals Prescription of antidepressants to patients on opioid maintenance therapy – a pharmacoepidemiological study

2011 ◽  
Vol 21 (1) ◽  
Author(s):  
Ingeborg Hartz ◽  
Jørgen G. Bramness ◽  
Svetlana Skurtveit
Keyword(s):  
Drug Therapy ◽  
Prescription Drugs ◽  
Selective Serotonin Reuptake Inhibitors ◽  
Antidepressant Drug ◽  
Antidepressant Drugs ◽  
Defined Daily Dose ◽  
Prescription Database ◽  
Depression And Anxiety ◽  
Norwegian Prescription Database ◽  
Antidepressant Use

<p><em><strong>Background and aims</strong></em>: Depression and anxiety are commonly reported among patients in opioid maintenance treatment (OMT). The aim of the present study was to describe aspects of prescription of antidepresant drug therapy among patients on OMT. Our research questions were: 1) What is the prevalence of antidepressant use according to age and gender? 2) Which antidepressants are used? 3) How are antidepressants used in terms of reimbursement codes, dispensed dose and duration of therapy?</p><p><em><strong>Methods</strong></em>: Pharmacoepidemiological data were retrieved from the complete national Norwegian Prescription Database which contains information on all prescription drugs (such as Anatomical Theraputical Chemical (ATC)-code, Defined Daily Dose (DDDs)), dispensed at pharmacies to individual patients. Norwegian OMT-patients (N=4374, 3035 men and 1339 women) who received methadone mixture, buprenorphine capsules or combined buprenorphine-naloxone capsules for at least 6 months in 2009 were included. Prevalence of antidepressant use in the studied patients was measured in terms of retrieval of prescriptions.</p><p><em><strong>Results:</strong></em> During 2009 21.7% of the studied patients filled at least one prescription for an antidepressant drugs (men: 21.2%; women: 22.9%). The subgroup of antidepressants most frequently dispensed was selective serotonin reuptake inhibitors (SSRIs) (33%), followed by the sedative antidepressants mianserin and mirtazapin (22%) and tricyclic antidepressants (TCAs) (20%). Except for TCAs, prescriptions of all antidepressant subgroups were reimbursed for either anxiety or depression in 90% of the cases. Overall, 46.9% of the antidepressant users were prescribed antidepressants in the category &lt; 1 DDD per day and/or treatment &lt; 3 months, with no gender difference.</p><p><em><strong>Conclusions</strong></em>: About one out of five OMT-patients filled a prescription for an antidepressant drug in 2009. Above 90% had their prescriptions reimbursed for either depression or anxiety. Use at low doses and/or sporadic use among half of the antidepressant users may reflect poor compliance or use for other maladies than the reimbursed disease code. Drug therapy for depression and anxiety among OMT-patients seems to be in line with recommendations for use; the SSRIs constitute the recommended drugs of choice due to their better effect/side effect profile, compared to the older antidepressants such as the TCAs.</p>

scholarly journals Prescription and use of “equivalent” drugs

2007 ◽  
Vol 1 (2) ◽  
pp. 69-87
Author(s):  
Mario Eandi
Keyword(s):  
Myocardial Infarction ◽  
Acute Myocardial Infarction ◽  
Generic Drug ◽  
Generic Drugs ◽  
Case Reports ◽  
Branded Drug ◽  
Italian Context

Three case reports, where an “equivalent” drugs is prescribed, are described: a patient treated with lanzoprazole, a man with acute myocardial infarction and a young man with epilepsy. These reports are emblematic of the doubts and problems that doctors have to afford in the choice of a generic drug instead of a branded drug. The Author examines not only clinical, legislative and economical aspects of prescription of generic drugs in the Italian context, but also common questions that patients may ask when a generic drug is prescribed.

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