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dc.contributor.authorGrasdal, Astrid Louise
dc.contributor.authorBrekke, Kurt Richard
dc.contributor.authorHolmås, Tor Helge
dc.date.accessioned2007-03-01T12:28:02Z
dc.date.available2007-03-01T12:28:02Z
dc.date.issued2006-09
dc.identifier.issn0804-6824
dc.identifier.urihttp://hdl.handle.net/11250/163310
dc.description.abstractWe study the relationship between regulatory regimes and pharmaceutical firms’ pricing strategies using a unique policy experiment from Norway, which in 2003 introduced a reference price (RP) system called “index pricing” for a sub-sample of off-patent pharmaceuticals, replacing the existing price cap (PC) regulation. We estimate the effect of the reform using a product level panel dataset, covering the drugs exposed to RP and a large number of drugs still under PC regulation in the time before and after the policy change. Our results show that RP significantly reduced both brand-name and generic prices within the reference group, with the effect being stronger for brand-names. We also identify a negative cross-price effect on therapeutic substitutes not included in the RP-system. In terms of policy implications, the results suggest that RP is more effective than PC regulation in lowering drug prices, while the cross-price effect raises a concern about patent protection.en
dc.language.isoengen
dc.publisherNorwegian School of Economics and Business Administration. Department of Economicsen
dc.relation.ispartofseriesDiscussion paperen
dc.relation.ispartofseries2006:30en
dc.subjectpharmaceuticalsen
dc.subjectprice regulationen
dc.subjectbranded-generic competitionen
dc.titleRegulation and pricing of pharmaceuticals : reference pricing or price cap regulation?en
dc.typeWorking paperen
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212en


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