Today, the global pharmaceutical product value chain is becoming increasingly complex and this has led to the emergence of 'multiple quality standards' for medicines. But this non-uniformity in the quality of medicine is also contingent upon both the regulatory milieu in the country of...

This paper uses macro-level data between 1997 and 2008 to evaluate the effects of China's pharmaceutical price regulations. We find that these regulations had short-run effects on medicine price indices, reducing them by less than 0.5 percentage points. The effects could have been slightly...

The paper uses a real option approach to investigate the impact of performance-based risk-sharing agreements for the reimbursement of new drugs in comparison with standard cost-effectiveness thresholds. The results show that the exact definition of the risk-sharing agreement is key in...

Before a new drug can be marketed the Food and Drug Administration must be satisfied that it is safe and effective. According to conventional wisdom, the cost and delay involved in this process diminish the incentives to invest in the development of new drugs. Accordingly, several reforms aimed...

Umbrella branding is a marketing practice whereby multi-product firms leverage their reputation across different product categories. This paper investigates how advertising in the market of over-the-counter (OTC) drugs affects the decision to buy prescription drugs from a promoted brand name. I...

This submission takes a public policy perspective, focusing on the public return from the patent system through competition based on the new technology after the 20-year patent monopoly period expires. The government has agreed time-limited monopolies to encourage domestic invention (the patent...