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Pharmaceutical Prices with Insurance Coverage and Formularies

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  • Aslam H. Anis
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    Abstract

    In this paper, the author evaluates the success of formulary pricing. Formulary pricing is a price-tendering system used to generate competition among drug suppliers. The paper develops a model of pricing in an uncertain auction from the point of view of a typical firm. The ability to make side-payments in the form of kickbacks to pharmacists segments the transaction into two stages. After the first-stage bidding, the second stage involves a renegotiation between pharmacists and the supplying firm. An econometric test for this model is developed and the empirical evidence is found to support the model well.

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    File URL: http://links.jstor.org/sici?sici=0008-4085%28199205%2925%3A2%3C420%3APPWICA%3E2.0.CO%3B2-P
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    Bibliographic Info

    Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

    Volume (Year): 25 (1992)
    Issue (Month): 2 (May)
    Pages: 420-37

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    Handle: RePEc:cje:issued:v:25:y:1992:i:2:p:420-37

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    Cited by:
    1. Paul Grootendorst, 2007. "Effects of 'Authorized-Generics' on Canadian Drug Prices," Social and Economic Dimensions of an Aging Population Research Papers 201, McMaster University.
    2. Paul Missios & Ida Ferrara, 2010. "Pricing of Drugs with Heterogeneous Health Insurance Coverage," Working Papers 026, Ryerson University, Department of Economics.
    3. Anis, Aslam H. & Wen, Quan, 1998. "Price regulation of pharmaceuticals in Canada," Journal of Health Economics, Elsevier, vol. 17(1), pages 21-38, January.
    4. Robin Lindsey & Douglas S. West, 1999. "National Pharmacare, Reference-Based Pricing, and Drug R&D: A Critique of the National Forum on Health's Recommendations for Pharmaceutical Policy," Canadian Public Policy, University of Toronto Press, vol. 25(1), pages 1-27, March.

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