The impact of parallel trade on innovation in R&D-intensive industries, such as pharmaceuticals, is a hotly debated question in antitrust and IP policy. The well known argument that parallel trade dampens innovation by undermining firms' ability to price discriminate has been challenged by...

It is widely argued that international arbitrage, or parallel trade (PT), trades off static against dynamic efficiency so that, compared with a national exhaustion regime of intellectual property rights, worldwide consumer surplus rises at the expense of R&D investment. We show that this common...

Study of trade-related aspects of intellectual property rights (TRIPS) has formed an integral part of the work program of the Committee on International Trade Law of the International Law Association (ILA) since its inaugural meeting at the headquarters of the GATT in 1993. In June 1995 in...

Pharmaceutical products are developed, approved, manufactured, traded, and used under complex and demanding regulatory schemes. While the intensity of regulation varies substantially among countries, lightly regulated markets are the exception, particularly from an economic standpoint. In this...

Parallel imports have been treated very differently in different countries. In the EU, competition law's very strong (per se) prohibition of restrictions to parallel imports (PI) can be justified by traditional "public interest" concerns related to the EU's objective to promote free trade and...

In this paper, I study the effect of parallel trade (cross border resale of goods without the authorization of the manufacturer) on pharmaceutical regulation in a North-South framework with a firm's endogenous decision to export to the South. Governments in both countries may limit prices...

Scholars and courts have long debated whether and when "parallel pricing" — adoption of the same price by every firm in a market — should be considered a violation of antitrust law. But there has been a comparative neglect of the importance of "parallel exclusion" — conduct, engaged in by...

We consider the welfare effect of parallel imports under the possibility of piracy, by constructing a model of the monopoly firm selling its product in a developed country and in a developing country. We show that parallel imports does not always make the firm worse off and consumers better off....