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Squeezing the Last Drop Out of Your Suppliers: An Empirical Study of Market-Based Purchasing Policies for Generic Pharmaceuticals
Södertörn University, School of Social Sciences, Economics.ORCID iD: 0000-0001-5026-9479
Umeå universitet.
Högskolan Dalarna.
2017 (English)In: Oxford Bulletin of Economics and Statistics, ISSN 0305-9049, E-ISSN 1468-0084Article in journal (Refereed) Epub ahead of print
Abstract [en]

We study the effect of the degree of exclusivity for the lowest bidder on the average price of generic pharmaceuticals in the short and long terms. Our results indicate that a 1-percentage-point gain in market share of the lowest bidder reduces average costs by 0.2% in the short term and 0.8% in the long term, but also reduces the number of firms by 1%. We find that reducing the number of firms has a strong positive (and hence counteracting) effect on average prices, a 1% reduction raising prices by approximately 1%.

Place, publisher, year, edition, pages
2017.
National Category
Economics
Identifiers
URN: urn:nbn:se:sh:diva-32453DOI: 10.1111/obes.12180OAI: oai:DiVA.org:sh-32453DiVA: diva2:1091947
Funder
Swedish Competition Authority
Available from: 2017-04-28 Created: 2017-04-28 Last updated: 2017-04-28Bibliographically approved

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CiteExportLink to record
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