The National Regulation of Pharmaceutical Markets and the Timing of New Drug Launches in Europe
We analyze the impact of national pharmaceutical regulation on the launch delay of new chemical entities approved by the EMEA’s centralized procedure. We find that direct price control regimes have a significantly negative impact on the launch timing. These results cannot be found when investigating the impact of indirect price controls. Our results show that Germany (65%) has the highest probability of experiencing an early launch, while it is the lowest in southern European countries (18% for Portugal and 19% for Greece). This difference accrues from both price regulation and market attractiveness, since southern European countries generally have lower prices. Due to the possibilities for parallel trade within the EU, pharmaceutical companies, by acting strategically, may further increase launch delays.
|Date of creation:||Mar 2007|
|Date of revision:|
|Contact details of provider:|| Postal: Kiellinie 66, D-24105 Kiel|
Phone: +49 431 8814-1
Fax: +49 431 85853
Web page: http://www.ifw-kiel.de
More information through EDIRC
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.:
- Brekke, Kurt R & Königbauer, Ingrid & Straume, Odd Rune, 2005.
"Reference Pricing of Pharmaceuticals,"
Working Papers in Economics
19/05, University of Bergen, Department of Economics.
- Guillem López & Jaume Puig, 1999.
"Review of the literature on reference pricing,"
Working Papers, Research Center on Health and Economics
362, Department of Economics and Business, Universitat Pompeu Fabra.
- Ganslandt, Mattias & Maskus, Keith E., 2004.
"Parallel imports and the pricing of pharmaceutical products: evidence from the European Union,"
Journal of Health Economics,
Elsevier, vol. 23(5), pages 1035-1057, September.
- 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.
- Frank R. Lichtenberg & Tomas J. Philipson, 2002.
"The Dual Effects of Intellectual Property Regulations: Within- and Between- Patent Competition in the US Pharmaceuticals Industry,"
NBER Working Papers
9303, National Bureau of Economic Research, Inc.
- Frank R. Lichtenberg & Tomas J. Philipson, 2002. "The Dual Effects of Intellectual Property Regulations: Within- and Between-Patent Competition in the U.S. Pharmaceuticals Industry," Journal of Law and Economics, University of Chicago Press, vol. 45(S2), pages 643-672.
- Brekke, Kurt R. & Grasdal, Astrid L. & Holmås, Tor Helge, 2006.
"Regulation and Pricing of Pharmaceuticals: Reference Pricing or Price Cap Regulation?,"
Working Papers in Economics
14/06, University of Bergen, Department of Economics.
- Brekke, Kurt R. & Grasdal, Astrid L. & Holms, Tor Helge, 2009. "Regulation and pricing of pharmaceuticals: Reference pricing or price cap regulation?," European Economic Review, Elsevier, vol. 53(2), pages 170-185, February.
- Kurt R. Brekke & Astrid L. Grasdal & Tor Helge Holmås, 2007. "Regulation and Pricing of Pharmaceuticals: Reference Pricing or Price Cap Regulation?," CESifo Working Paper Series 2059, CESifo Group Munich.
When requesting a correction, please mention this item's handle: RePEc:kie:kieasw:437. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dieter Stribny)
If references are entirely missing, you can add them using this form.