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Pharmaceutical Economics

Edited by William S. Comanor, Professor of Health Policy and Management, Director, Research Program on Pharmaceutical Economics and Policy, Fielding School of Public Health, University of California at Los Angeles and Professor of Economics, University of California, Santa Barbara, US and Stuart O. Schweitzer, Professor of Health Policy and Management, Associate Director, Research Program on Pharmaceutical Economics and Policy, Fielding School of Public Health, University of California at Los Angeles, US
Pharmaceutical Economics begins with an investigation of the structure of the industry and its three main components: the research firms which produce innovative products; the generic drug industry and its expanding role; and the biotech industry, which is regarded as the future for pharmaceuticals. Further sections discuss topics including demand and incentives, pricing and regulation.
Extent: 776 pp
Hardback Price: $412.00 Web: $370.80
Publication Date: 2014
ISBN: 978 0 85793 449 9
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  • Economics and Finance
  • Health Policy and Economics
  • Industrial Economics
  • Social Policy and Sociology
  • Health Policy and Economics
Pharmaceutical Economics begins with an investigation of the structure of the industry and its three main components: the research firms which produce innovative products; the generic drug industry and its expanding role; and the biotech industry, which is regarded as the future for pharmaceuticals. Further sections discuss topics including demand and incentives, pricing and regulation.

Professor Comanor and Professor Schweitzer have selected the most significant articles by leading academics, in order to offer a blend of standard economic interpretations of pharmaceutical policy and important new topics including biosimilars, insurance coverage for pharmaceuticals, price-fixing and direct-to-consumer advertising.

An authoritative new introduction by the editors provides an insightful guide to these important topics.
34 articles, dating from 1987 to 2011
Contributors include: E.R. Berndt, R.E. Caves, P.M. Danzon, R.G. Frank, H. Grabowski, R. Henderson, F.R. Lichtenberg, F.M. Scherer, F.M. Scott Morton, M.D. Whinston
Contents:

Acknowledgements

Introduction Pharmaceutical Economics and Policy William S. Comanor and Stuart O. Schweitzer with Karleen Giannitrapani

PART I THE INDUSTRY
A The Structure of the Industry
1. Patricia M. Danzon, Andrew Epstein and Sean Nicholson (2007), ‘Mergers and Acquisitions in the Pharmaceutical and Biotech Industries’

B Patented Pharmaceuticals and Innovation
2. Iain Cockburn and Rebecca Henderson (1994), ‘Racing to Invest? The Economics of Competition in Ethical Drug Discovery’
3. William S. Comanor (2007), ‘The Economics of Research and Development in the Pharmaceutical Industry’
4. Joseph A. DiMasi, Ronald W. Hansen, Henry G. Grabowski and Louis Lasagna (1991), ‘Cost of Innovation in the Pharmaceutical Industry’
5. Rebecca Henderson and Iain Cockburn (1996), ‘Scale, Scope, and Spillovers: The Determinants of Research Productivity in Drug Discovery’
6. F.M. Scherer (2001), ‘The Link between Gross Profitability and Pharmaceutical R&D Spending’
7. Patricia M. Danzon, Sean Nicholson and Nuno Sousa Pereira (2005), ‘Productivity in Pharmaceutical-Biotechnology R&D: The Role of Experience and Alliances’
8. Henry Grabowski, John Vernon and Joseph A. Di Masi (2002), ‘Returns on Research and Development for 1990s New Drug Introductions’
9. Mark Duggan and Fiona Scott Morton (2010), ‘The Effect of Medicare Part D on Pharmaceutical Prices and Utilization’
10. Frank R. Lichtenberg (2003), ‘Pharmaceutical Innovation, Mortality Reduction, and Economic Growth’
11. Bernard Munos (2009), ‘Lessons from 60 Years of Pharmaceutical Innovation’

C The Generic Drug Industry
12. Richard E. Caves, Michael D. Whinston and Mark A. Hurwitz (1991), ‘Patent Expiration, Entry, and Competition in the U.S. Pharmaceutical Industry’
13. Henry Grabowski (2007), ‘Competition between Generic and Branded Drugs’
14. Fiona M. Scott Morton (1999), ‘Entry Decisions in the Generic Pharmaceutical Industry’
15. Richard G. Frank and David S. Salkever (1997), ‘Generic Entry and the Pricing of Pharmaceuticals’

D Biologics
16. Steven Kozlowski, Janet Woodcock, Karen Midthun and Rachel Behrman Sherman (2011), ‘Developing the Nation’s Biosimilars Program’
17. Scott Gottlieb (2008), ‘Biosimilars: Policy, Clinical, and Regulatory Considerations’

PART II THE DEMAND FOR PHARMACEUTICALS: DEMAND AND INCENTIVES
18. Willard G. Manning, Joseph P. Newhouse, Naihua Duan, Emmett B. Keeler, Arleen Leibowitz and M. Susan Marquis (1987), ‘Health Insurance and the Demand for Medical Care: Evidence from a Randomized Experiment’
19. Frank R. Lichtenberg and Shawn X. Sun (2007), ‘The Impact of Medicare Part D on Prescription Drug Use by the Elderly’
20. Meredith B. Rosenthal, Ernst R. Berndt, Julie M. Donahue, Arnold M. Epstein and Richard G. Frank (2003), Demand Effects of Recent Changes in Prescription Drug Promotion
21. Davina C. Ling, Ernst R. Berndt and Margaret K. Kyle (2002), ‘Deregulating Direct-to-Consumer Marketing of Prescription Drugs: Effects on Prescription and Over-the-Counter Product Sales’
22. Michele M. Spence, Stephanie S. Teleki, T. Craig Cheetham, Stuart O. Schweitzer and Mirta Millares (2005), ‘Direct-to-Consumer Advertising of COX-2 Inhibitors: Effect on Appropriateness of Prescribing’
23. Joel W. Hay (2004), ‘Evaluation and Review of Pharmaeconomic Models’

PART III PRICING
24. Ernst R. Berndt (2002), ‘Pharmaceuticals in U.S. Health Care: Determinants of Quality and Price’
25. Z. John Lu and William S. Comanor (1998), ‘Strategic Pricing of New Pharmaceuticals’
26. Jayanta Bhattacharya and William B. Vogt (2003), ‘A Simple Model of Pharmaceutical Price Dynamics’
27. Stuart O. Schweitzer and William S. Comanor (2011), ‘Prices of Pharmaceuticals in Poor Countries are Much Lower than in Wealthy Countries’
28. Patricia M. Danzon and Li-Wei Chao (2000), ‘Cross-national Price Differences for Pharmaceuticals: How Large, and Why?’

PART IV REGULATION
29. Daniel Carpenter and Gisela Sin (2007), ‘Policy Tragedy and the Emergence of Regulation: The Food, Drug, and Cosmetic Act of 1938’
30. Ernst R. Berndt, Robert S. Pindyck and Pierre Azoulay (2003), ‘Consumption Externalities and Diffusion in Pharmaceutical Markets: Antiulcer Drugs’
31. David Granlund (2010), ‘Price and Welfare Effects of Pharmaceutical Substitution Reform’
32. Adrian Towse (2007), ‘If It Ain’t Broke, Don’t Price Fix It: The OFT and the PPRS’
33. Stuart O. Schweitzer (2007), ‘The Timing of Drug Approvals in the United States and Abroad’