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Parallel Imports of Pharmaceutical Products in the European Union

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Author Info
Granslandt, M.
Maskus, K.E.

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Abstract

We study the effects of parallel trade in the pharmaceutical industry. We develop a model in which an original manufacturer competes in its home market with parallel-importing firms. The theoretical analysis results in two key hypotheses. First, if the potential for parallel imports is unlimited, the manufacturer chooses deterrence and international prices converge. Second, with endogenously limited arbitrage the manufacturing firm accommodates and the price in the home market falls as the volume of parallel trade rises. Simple empirical tests favor the accommodation hypothesis with a time lag.

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Publisher Info
Paper provided by Research Institute of Industrial Economics (IFN) in its series Research Institute of Industrial Economics Working Papers with number 546.

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Length: 27 pages
Date of creation: 2001
Date of revision:
Handle: RePEc:fth:iniesr:546

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Postal: Research Institute of Industrial Economics (IFN) ; B.O. Box 55665, SE-102 15 Stockholm, Sweden
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Related research
Keywords: PHARMACEUTICAL INDUSTRY ; INTERNATIONAL TRADE ; PRICING;

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Find related papers by JEL classification:
F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies
I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Ganslandt, Mattias & Maskus, Keith E., 2001. "Parallel imports of pharmaceutical products in the European Union," Policy Research Working Paper Series 2630, The World Bank. [Downloadable!]
    Other versions:
  2. Patricia M. Danzon, 1998. "The Economics of Parallel Trade," PharmacoEconomics, Wolters Kluwer Health | Adis, vol. 13(3), pages 293-304. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ganslandt, Mattias & Maskus, Keith E., 2001. "Parallel Imports of Pharmaceutical Products in the European Union," Working Paper Series 546, Research Institute of Industrial Economics. [Downloadable!]
    Other versions:
  2. Bordoy,Catalina & Jelovac,Izabela, 2003. "Pricing and Welfare of Parallel Imports in the Pharmaceutical Industry," Research Memoranda 004, Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology. [Downloadable!]
  3. Kristina M. Lybecker, 2008. "Keeping it real: anticounterfeiting strategies in the pharmaceutical industry," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(5), pages 389-405. [Downloadable!]
  4. Richard Friberg, 2003. "Common Currency, Common Market?," IEHAS Discussion Papers 0305, Institute of Economics, Hungarian Academy of Sciences. [Downloadable!]
    Other versions:
  5. Ganslandt, Mattias & Maskus, Keith E., 2004. "Parallel Import and the Pricing of Pharmaceutical Products: Evidence from the European Union," Working Paper Series 622, Research Institute of Industrial Economics. [Downloadable!]
    Other versions:
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