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| Author: | Lu , Z. J. Comanor, W. S. |
| Title: | Strategic pricing of new pharmaceuticals |
| Journal: | Review of Economics and Statistics
1998 : FEB, VOL. 80:1, p. 108-118 |
| Index terms: | PHARMACEUTICAL INDUSTRY STRATEGY PRICING |
| Language: | eng |
| Abstract: | The pricing of new pharmaceuticals has long been a source of controversy. This study explores an alternative set of determinants for the prices of new pharmaceutical products. The study finds that the primary explanatory factors are therapeutic value of the product and the nature of competition in the relevant market, in contrast to standard arguments. The analysis examines the pricing strategies used for newly patented pharmaceuticals, covering 144 new drugs introduced in the U.S. between 1978-1987. The study explores how the prices of patented new drugs are set relative to their existing substitutes and how the prices change over time. |
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