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Pricing and reimbursement in US pharmaceutical markets
In: NBER working paper series 16297
"The NBER Bulletin on Aging and Health provides summaries of publications like this. You can sign up to receive the NBER Bulletin on Aging and Health by email. In this survey chapter on pricing and reimbursement in U.S. pharmaceutical markets, we first provide background information on important federal legislation, institutional details regarding distribution channel logistics, definitions of alternative price measures, related historical developments, and reasons why price discrimination is highly prevalent among branded pharmaceuticals. We then present a theoretical framework for the pricing of branded pharmaceuticals, without and then in the presence of prescription drug insurance, noting factors affecting the relative impacts of drug insurance on prices and on utilization. With this as background, we summarize major long-term trends in copayments and coinsurance rates for retail and mail order purchases, average percentage discounts off Average Whole Price paid by third party payers to pharmacy benefit managers as well as average dispensing fees, and generic penetration rates. We conclude with a summary of the evidence regarding the impact of the 2006 implementation of the Medicare Part D benefits on pharmaceutical prices and utilization, and comment on very recent developments concerning the entry of large retailers such as Wal-Mart into domains traditionally dominated by large retail chains and the "commoditization" of generic drugs"--National Bureau of Economic Research web site
Brand loyalty, generic entry and price competition in pharmaceuticals in the quarter century after the 1984 Waxman-Hatch legislation
In: NBER working paper series 16431
"The NBER Bulletin on Aging and Health provides summaries of publications like this. You can sign up to receive the NBER Bulletin on Aging and Health by email. The landmark Waxman-Hatch Act of 1984 represented a "grand compromise" legislation that sought to balance incentives for innovation by establishing finite periods of market exclusivity yet simultaneously providing access to lower cost generics expeditiously following patent expiration. Here we examine trends in the first quarter century since passage of the legislation, building on earlier work by Grabowski and Vernon [1992,1996] and Cook [1998]. The generic share of retail prescriptions in the U.S. has grown from 18.6% in 1984 to 74.5% in 2009, with a notable acceleration in recent years. This increase reflects increases in both the share of the total market potentially accessible by generics, and the generic efficiency rate - the latter frequently approaching 100%. Whereas in 1994, the generic price index fell from 100 to 80 in the 12 months following initial generic entry and by 24 months to 65, in 2009 the comparable generic price indexes are 68 and 27, respectively. Recent studies sponsored by the American Association of Retired Persons focus only on brand prices and ignore substitution to lower priced options following loss of patent protection. For the prescription drugs most commonly used by beneficiaries in Medicare Part D, the average price per prescription declined by 21.3% from 2006 to 2009, rather than increasing by 25-28% as reported by the AARP. Finally, we quantify changes over time in the average daily cost of pharmaceutical treatment in nine major therapy areas, encompassing the entire set of molecules within each therapy class, not simply the molecule whose patent has expired. Across all nine therapeutic areas, at 24 months post-generic entry, the weighted mean reduction in pharmaceutical treatment cost per patient is 35.1%"--National Bureau of Economic Research web site
Opportunities for improving the drug development process: results from a survey of industry and the FDA
In: NBER working paper series 11425
The medical treatment of depression, 1991 - 1996: productive inefficiency, expected outcome variations, and price indexes
In: NBER working paper series 7816
Consumption externalities and diffusion in pharmaceutical markets: antiulcer drugs
In: NBER working paper series 7772
The U.S. pharmaceutical industry: why significant growth in times of cost containment?
In: WP 56-00
Is price inflation different for the elderly?: An empirical analysis of prescription drugs
In: NBER working paper series 6182
Uniform pharmaceutical pricing: an economic analysis
In: AEI special studies in health reform
Economic capacity utilization and productivity measurement for multiproduct firms with multiple quasi-fixed inputs
In: Working paper series 8908
The Contributions of Robert S. Pindyck
In: MIT Sloan Research Paper No. 6837, 2023
SSRN
British Columbia's Energy Outlook 1976-1991
In: Canadian public policy: Analyse de politiques, Band 4, Heft 1, S. 128
ISSN: 1911-9917
Four Facts Concerning Competition in U.S. Generic Prescription Drug Markets
In: NBER Working Paper No. w26194
SSRN
Working paper
Specialty Drug Prices and Utilization after Loss of U.S. Patent Exclusivity, 2001-2007
In: NBER Working Paper No. w20016
SSRN