Reference prices: The Spanish way

Jorge Mestre
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Jorge Mestre: Office of Health Economics (UK)

Investigaciones Economicas, 2003, vol. 27, issue 1, 125-149

Abstract: The aim of this paper is to analyse the effects of recent regulatory reforms implemented in the Spanish pharmaceutical market: the promotion of generic drugs and the implementation of reference prices. The objectives of such reforms are twofold: firstly, to increase price competition and secondly, to reduce public pharmaceutical costs. This paper shows that for the Spanish method of implementing reference prices to achieve these objectives, compared to a situation with copayments, requires the reference price to be set in a certain interval. In addition, the Spanish system may result in profits for the branded and generic producers being reduced

Keywords: Reference prices; copayments; generics; pharmaceutical industry (search for similar items in EconPapers)
JEL-codes: I18 L00 L50 L65 (search for similar items in EconPapers)
Date: 2003
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