We analyze the effects on consumers of an extreme policy experiment -- Napsterizing' pharmaceuticals -- whereby all … associated with greater access to the current stock of pharmaceuticals, future consumers will be harmed by reducing the flow of … new pharmaceuticals to the market. Our estimates of the consumer surpluses at stake are based on the stylized facts …

Generic pharmaceuticals provide low-cost access to treatment. Despite their chemical equivalence to branded products …

suggest that misinformation and related consumer mistakes explain a sizable share of the brand premium for health products …

Settlements of drug patent disputes that involve a potential payment from the brand to the generic signal a possible … economics. A common feature of these brand-generic settlements, so-called "most-favored entry" (MFE) clauses, have not been … investigated to the same extent. The expectation that brand drug companies make settlement decisions rationally implies that an …

precludes later filing generics from entering before the first filer). In our data, the generic and brand usually settled prior …

direct dollar savings. Generic drug use may also yield indirect savings if it lowers the average price of those brand …-name drugs that are still purchased. Prior work indicates - and we confirm - that generic competition does not induce brand …-name producers to lower prices. However, consumer choices between generic and brand-name drugs could affect the average price of …