It is commonly argued that in recent years pharmaceutical companies have directed their R&D towards small improvements of existing compounds instead of more risky drastic innovations. In this paper we show that the proliferation of these small innovations is likely to be linked to the lack of...

This article tries to reconcile economic-industrial policy with health policy when dealing with biomedical innovation and welfare state sustainability. Better health accounts for an increasingly large proportion of welfare improvements. Explanation is given to the welfare losses coming from the...

This article analyses the impact of the reference price system on the price-setting strategies of the pharmaceutical firms and on the level of generic usage. This model is the first to take explicitly into account the impact of the reference price mechanism on the level of competition between...

Broadly speaking, pharmaceutical policy in Spain has been unable to control either the price or the volume of drugs prescribed. Limited attempts have been made to bring together the regulation of the pharmaceutical market and policies, in pursuit of the desired goals of efficiency and quality....

This article analyses the impact of the reference price system on the price-setting strategies of the pharmaceutical firms and on the level of generic usage. This model is the first to take explicitly into account the impact of the reference price mechanism on the level of competition between...

Broadly speaking, pharmaceutical policy in Spain has been unable to control either the price or the volume of drugs prescribed. Limited attempts have been made to bring together the regulation of the pharmaceutical market and policies, in pursuit of the desired goals of efficiency and quality....

Using econometric evidence, this article confirms that distribution of medicines online is split into two market segments of very diverse quality, and identifies the factors that drive quality and quality assurance in this activity. Unlike fraudulent, ‘rogue,’ websites, which offer scant...

The purpose of this paper is to provide an overview of the evolution of health care expenditure in Spain during the period 1980-1997, and henceforth to comment on the cost containment measures put forward to control its growth. The paper is divided into three separate sections. The first offers...

The purpose of this paper is to provide an overview of the evolution of health care expenditure in Spain during the period 1980-1997, and henceforth to comment on the cost containment measures put forward to control its growth. The paper is divided into three separate sections. The first offers...

This paper provides empirical evidence on the explanatory factors affecting introductory prices of new pharmaceuticals in a heavily regulated and highly subsidized market. We collect a data set consisting of all new chemical entities launched in Spain between 1997 and 2005, and model launching...