Healthcare Economist September 16, 2024
That is the title of a fantastic editorial from Olivença et al. (2024). A lot of people when they look at pharmaceutical prices think they are ‘too high’ or ‘too low’. But the question is, too high or too low relative to what? What are our goals in pharmaceutical pricing. The editorial clearly articulates the issue as one of a market design problem. I have heard one of the co-authors (Dr. Lou Garrison) make this comment multiple times at conferences, but it is helpful to see this written down in print.
Of note is that the market exclusivity drugs enjoy covers just the manufacture of a specific product; competitors may arrive with competitor treatments and identical generic copies may arrive...
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