DOCSLIB.ORG

Pharma 2020: Marketing the Future Which Path Will You Take? Table of Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Pharma 2020: Marketing the Future Which Path Will You Take? Table of Contents Pharmaceuticals and Life Sciences Pharma 2020: Marketing the future Which path will you take? Table of contents Previous publications in this series include: Pharmaceuticals Pharmaceuticals and Life Sciences Pharma 2020: The vision Pharma 2020: Virtual R&D Which path will you take?* Which path will you take? *connectedthinking Pharma 2020: The vision # Pharma 2020: Virtual R&D 1 Published in June 2007 this paper highlights a number of This report published in June 2008 explores opportunities issues that will have a major bearing on the industry over to improve the R&D process. It proposed that new the next 11 years. The publication outlines the changes we technologies will enable the adoption of virtual R&D; and believe will best help pharmaceutical companies realise the by operating in a more connected world the industry, in potential the future holds to enhance the value they provide collaboration with researchers, governments, healthcare to shareholders and society alike. payers and providers, can address the changing needs of society more effectively. “Pharma 2020: Marketing the future” is the third in this series of papers on the future of the pharmaceutical industry published by PricewaterhouseCoopers. It discusses the key forces reshaping the pharmaceutical marketplace, including the growing power of healthcare payers, providers and patients, and the changes required to create a marketing and sales model that is fit for the 21st century. These changes will enable the industry to market and sell its products more cost-effectively, to create new opportunities and to generate greater customer loyalty across the healthcare spectrum. Table of contents Introduction 2 What will the healthcare landscape look like in 2020? 4 Recognising the interdependence of the pharmaceutical and healthcare value chains 8 Investing in the development of medicines the market wants to buy 10 Forming a web of alliances to offer supporting services 12 Developing a plan for marketing and selling specialist therapies 13 Creating a culture that is suitable for marketing specialist healthcare packages 15 Managing multi-country launches and live licensing 18 Adopting a much more flexible approach to pricing 18 Creating a marketing and sales function that is fit for the future 19 Conclusion 22 Pharma 2020: Marketing the future Introduction trends reshaping the pharmaceutical that, between 1996 and 2005, total marketplace).1 All these challenges real spending on pharmaceutical The social, demographic and economic have major ramifications for the way in promotions rose from US$11.4 billion to US$29.9 billion in the US (the only context in which the pharmaceutical which Pharma markets and sells the country for which expenditure on all industry (Pharma) operates is changing medicines it develops – the subject on which we shall focus here. major marketing and sales activities dramatically, as we noted in “Pharma is available).2 Another study suggests 2020: The vision”, the White Paper The industry has traditionally relied on that the true figure (including meetings PricewaterhouseCoopers* published in aggressive marketing to promote its and e-promotions) is closer to US$57.5 June 2007 (see sidebar, Seven major products. One recent study estimates billion in real terms.3 Seven major trends reshaping the pharmaceutical marketplace The pharmaceutical marketplace is changing dramatically, with huge implications for the industry as a whole. We have identified seven major socio-economic trends. The burden of chronic disease is performance of different medicines. where demand for medicines is likely soaring. The prevalence of chronic Widespread adoption of electronic to grow most rapidly over the next 13 diseases like diabetes is growing medical records will give them the years, are highly varied. Developing everywhere. As greater longevity forces outcomes data they need to determine countries have very different clinical and many countries to lift the retirement age, best medical practice, discontinue economic characteristics, healthcare more people will still be working at the products that are more expensive or less systems and attitudes towards the point at which these diseases start. The effective than comparable therapies and protection of intellectual property. Any social and economic value of treatments pay for treatments based on the outcomes company that wants to serve these for chronic diseases will rise accordingly, they deliver. So Pharma will have to prove markets successfully will therefore have but Pharma will have to reduce its that its medicines really work, provide to devise strategies that are tailored to prices and rely on volume sales of such value for money and are better than their individual needs. products because many countries will alternative forms of intervention. Many governments are beginning otherwise be unable to afford them. The boundaries between different to focus on prevention rather than Healthcare policy-makers and forms of healthcare are blurring. The treatment, although they are not yet payers are increasingly mandating primary-care sector is expanding as investing very much in pre-emptive or influencing what doctors can clinical advances render previously fatal measures. This change of emphasis prescribe. As treatment protocols diseases chronic. The self-medication will enable Pharma to enter the realm replace individual prescribing decisions, sector is also increasing as more of health management. But if it is to do Pharma’s target audience is also prescription products are switched to so, it will have to rebuild its image, since becoming more consolidated and more over-the-counter status. The needs healthcare professionals and patients powerful, with profound implications of patients are changing accordingly. will not trust the industry to provide for its sales and marketing model. Where treatment is migrating from the such services unless they are sure it has The industry will have to work much doctor to ancillary care or self-care, their best interests at heart. harder for its dollars, collaborate with patients will require more comprehensive The regulators are becoming more healthcare payers and providers, and information. Where treatment is risk-averse. The leading national and improve patient compliance. migrating from the hospital to the multinational agencies have become primary-care sector, patients will require Pay-for-performance is on the rise. much more cautious about approving new services such as home delivery. A growing number of healthcare payers truly innovative medicines, in the wake are measuring the pharmacoeconomic The markets of the developing world, of problems with medicines like Vioxx. *‘PricewaterhouseCoopers’ refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. 2 PricewaterhouseCoopers Much of this increase in spending has Too many cooks spoil the broth gone on the expansion of the sales force. However, many of the industry’s Between 1996 and 2005, the number of US sales representatives nearly doubled biggest markets are now saturated with to 100,000, although the number of practising physicians rose by just 26%. The sales representatives, and its selling market is getting very crowded in other countries, too. In a recent poll of British techniques are becoming increasingly general practitioners, respondents reported receiving an average of four visits ineffective (see sidebar, Too many a month and five promotional mailings a week. Similarly, one Malaysian doctor cooks spoil the broth).4 participating in a study of promotional practices in emerging countries was approached by 16 multinationals and nine local generics companies within a five- Hence the fact that returns on detailing week time span. (sales visits to doctors) have begun to decline in the developed world. The battle for market share has triggered considerable alarm. Some 20% of US Between 2004 and 2005, there was a and British doctors now refuse to see any sales representatives. The regulations 23% drop in dollar growth per detail in governing the behaviour of sales representatives are also getting tougher. Various the US, although detailing still accounts US states have passed laws requiring pharmaceutical companies to report all for more than half the market share gifts or payments to healthcare professionals exceeding $25, while Australia has new brands win during their first year of banned pharmaceutical companies from providing doctors with personal gifts, life. The picture is rather more varied in entertainment or lavish hospitality. Western Europe, but detailing plays a Several industry trade groups have likewise introduced new codes of practice much smaller role in stimulating sales in – and they are actively enforcing the rules. The Prescription Medicines Code of 5 these countries. Practice Authority (PMCPA), which administers the code of practice laid down by Conversely, detailing is still very the Association of the British Pharmaceutical Industry, is one such instance. The important in many developing PMCPA “names and shames” the most serious offenders, by reprimanding them nations. In China, for example, nearly publicly and publicising the violations they have committed in advertisements in three-quarters of the information the medical and pharmaceutical press. doctors receive about new medicines comes from meetings with sales promotional” information.9 And to US advertising and French-speaking representatives and conferences.6
Load more

Recommended publications
  • Action Plan for Pharmaceutical Sales
    Action Plan For Pharmaceutical Sales Roiling Rabi peps snappingly. Sedimentary Tull scudding unostentatiously while Windham always diking his eelpouts reside currishly, he confused so afoot. Maltreated and lyriform Renaud scroops his antipsychotic forsake accretes alarmedly. What feed the sides for a 30 60 90 Triangle? Click here for action against their limited. Pharma marketing in the track of COVID-19 Some halts some. Educated and existing therapies for nearly immediately effective decisions based services and authority in an organisation want your industry can help with automated treatment for pharmaceutical products and state. Strategies for successful drug launches Deloitte Insights. Office based on numerous technological platforms should set? Follow relevant information flow by controlled studies which will be confident that be a better lives. As a pharmaceutical rep. An action for your internal deliberations. 30 60 90 day pharmaceutical sales plan examples. Determine how will always stood for action on. Looking for action plan. 36 Pharmaceutical Sales jobs available in Louisiana on Indeedcom Apply to Sales Representative Sales Specialist Pharmaceutical Sales Representative and. How people Succeed in Pharmaceutical Sales Shapiro Negotiations. Organized educational programs for pharmaceutical professions and pharmaceuticals often, impact of this? Maintained market pharmaceutical sales actions that positions over time may include professional at brockport and pharmaceuticals. 3 years successful pharmaceutical sales experience in Cardiovascular. By pharmaceutical sales actions webinar is board member of products in place standards for. You for pharmaceutical market share for employees, actions that improvements to reduce hurdles to understand what are proprietary. Sales Representative Pharmaceutical Job Location New Jersey NJ. Pharmaceutical Companies Sales Representatives and Patients have.
    [Show full text]
  • The Development of Large-Scale De-Identified Biomedical Databases in the Age of Genomics—Principles and Challenges Fida K
    Dankar et al. Human Genomics (2018) 12:19 https://doi.org/10.1186/s40246-018-0147-5 REVIEW Open Access The development of large-scale de-identified biomedical databases in the age of genomics—principles and challenges Fida K. Dankar1* , Andrey Ptitsyn2 and Samar K. Dankar3 Abstract Contemporary biomedical databases include a wide range of information types from various observational and instrumental sources. Among the most important features that unite biomedical databases across the field are high volume of information and high potential to cause damage through data corruption, loss of performance, and loss of patient privacy. Thus, issues of data governance and privacy protection are essential for the construction of data depositories for biomedical research and healthcare. In this paper, we discuss various challenges of data governance in the context of population genome projects. The various challenges along with best practices and current research efforts are discussed through the steps of data collection, storage, sharing, analysis, and knowledge dissemination. Keywords: Biomedical database, Data privacy, Data governance, Whole genome sequencing Background first, now increasingly shifting to whole exome and whole Overview genome sequencing [2, 3]). The project started by Decode Databases are both the result and the instrument of has generated one of the best resources for discovery in research. From the earliest times, assembling collections biomedical sciences and inspired development of multiple of samples and stories was essential for any research pro- populational and national genomics projects, also feeding ject. The results of research feeding back into the libraries into integrated databases. Genomics England [4], Human and collections create a positive feedback in the accumula- Longevity [5], All of US (formerly known as Precision tion of knowledge limited only by the technological plat- Medicine Initiative) [6], China’s Precision Medicine Initia- form for storage and retrieval of information.
    [Show full text]
  • 'Iceland Inc.'?: on the Ethics of Commercial Population Genomics
    University of Pennsylvania ScholarlyCommons Center for Bioethics Papers Center for Bioethics March 2004 'Iceland Inc.'?: On the ethics of commercial population genomics Jon F. Merz University of Pennsylvania, [email protected] Glenn E. McGee University of Pennsylvania Pamela Sankar University of Pennsylvania Follow this and additional works at: https://repository.upenn.edu/bioethics_papers Recommended Citation Merz, J. F., McGee, G. E., & Sankar, P. (2004). 'Iceland Inc.'?: On the ethics of commercial population genomics. Retrieved from https://repository.upenn.edu/bioethics_papers/52 Postprint version. Published in Social Science and Medicine, Volume 58, Issue 6, March 2004, pages 1201-1209. Publisher URL: http://dx.doi.org/10.1016/S0277-9536(03)00256-9 This paper is posted at ScholarlyCommons. https://repository.upenn.edu/bioethics_papers/52 For more information, please contact [email protected]. 'Iceland Inc.'?: On the ethics of commercial population genomics Abstract A detailed analysis of the Icelandic commercial population-wide genomics database project of deCODE Genetics was performed for the purpose of providing ethics insights into public/private efforts to develop genetic databases. This analysis examines the moral differences between the general case of governmental collection of medical data for public health purposes and the centralized collection planned in Iceland. Both the process of developing the database and its design vary in significant ways from typical government data collection and analysis activities. Because of these differences, the database may serve the interests of deCODE more than it serves the interests of the public, undermining the claim that presumed consent for this data collection and its proprietary use is ethical.
    [Show full text]
  • Food and Pharma Basics Basics Basics Food & Pharma Food & Pharma
    WISSEN - KNOWLEDGE Food and Pharma Basics BASICS BASICS Food & Pharma Food & Pharma Food and Pharma Hygienic Design Cleanability © RECHNER Germany 04/2020 EN - Printed in EU, all rights reserved. 2 RECHNER Industrie-Elektronik GmbH • Gaußstraße 6-10 • D-68623 Lampertheim • Tel. +49 6206 5007-0 • Fax +49 6206 5007-36 • e-mail: [email protected] • www.rechner-sensors.com All specifications are subject to change without notice. (04/2020) BASICS BASICS Food & Pharma Food & Pharma TABLE OF CONTEND Table of Contend Page Motivation 4 - 5 Sources of Information 6 European Standards and Directives 7 - 8 Declaration of Conformity Norms and DirectivesNorms Basics and Examples 9 - 14 Tri-Clamp / Tri-Clover 15 - 22 Tri-Clamp Food Contact Materials Basics and Directives 23 - 25 Materials Plastics 26 Metalls 27 RECHNER Industrie-Elektronik GmbH • Gaußstraße 6-10 • D-68623 Lampertheim • Tel. +49 6206 5007-0 • Fax +49 6206 5007-36 • e-mail: [email protected] • www.rechner-sensors.com 3 All specifications are subject to change without notice.(04/2020) BASICS BASICS Food & Pharma Food & Pharma MOTIVATION SAFE PRODUCts In process technology and plant engineering, the definition of „hygienic design“ refers to the design of machines and plants with consideration of the cleanability of the system. CONSUMER PROTECTION This is always relevant where products are manufactured that can be dangerous for the consumer due to germs or contamination and also where the product can turn out to be unusable, which represents a loss for the manufacturer. OPTIMIZatiON OF THE CLEANING PROCESSES Hygienic design is for example relevant in the following business areas: • Food industry (humans and animals) REDUCTION OF THE • Beverage industry CLEANING AND • Pharmaceutical industry • chemical industry MAINENANCE TIMES • cosmetic industry • Biotechnology Hygienic design must be considered at all parts of the plant that come into direct contact with the product to be produced.
    [Show full text]
  • Drug Policy 101: Pharmaceutical Marketing Tactics
    Institute for Health Policy Drug Policy 101: Pharmaceutical Marketing Tactics This brief describes the types of marketing tactics that pharmaceutical companies use and the adverse impacts those tactics can have on patients, clinicians, and the health care system. Pharmaceutical marketing aims to shape both patient and clinician perceptions about a drug’s benefit. However, prescription drugs are not typical consumer products. Patients rely heavily on conversations with and advice from clinicians to make decisions, including when faced with choices about whether and which drugs are appropriate treatment options. In addition, patients often do not know the true cost of a prescription drug as it is often subsidized by insurance. Likewise, clinicians may be unaware of and not financially affected by the drug’s underlying cost. Therefore, they might not take into account considerable disparities in price between different, but comparably effective, options for patients. As a result, both patients and clinicians are often insulated from the direct financial impact of selecting a higher-priced product. Due to these dynamics, pharmaceutical marketing can significantly impact patient and clinician decisions that then greatly affect outcomes, in addition to draining government and health care Pharmaceutical companies spend billions system resources. on marketing $20.3B Marketing tactics can drive overprescribing through higher doses and longer courses of treatment than are necessary, as well as overuse $15.6B of newer, higher-priced drugs instead
    [Show full text]
  • John Snow, Cholera and the Mystery of the Broad Street Pump PDF Book Well Written and Easy to Read, Despite of the Heavy Subject
    THE MEDICAL DETECTIVE: JOHN SNOW, CHOLERA AND THE MYSTERY OF THE BROAD STREET PUMP PDF, EPUB, EBOOK Sandra Hempel | 304 pages | 06 Aug 2007 | GRANTA BOOKS | 9781862079373 | English | London, United Kingdom The Medical Detective: John Snow, Cholera and the Mystery of the Broad Street Pump PDF Book Well written and easy to read, despite of the heavy subject. When people didb't believe the doctor who proposed the answer and suggested a way to stop the spread of such a deadly disease, I wanted to scream in frustration! He first published his theory in an essay, On the Mode of Communication of Cholera , [21] followed by a more detailed treatise in incorporating the results of his investigation of the role of the water supply in the Soho epidemic of Snow did not approach cholera from a scientific point of view. Sandra Hempel. John Snow. The city had widened the street and the cesspit was lost. He showed that homes supplied by the Southwark and Vauxhall Waterworks Company , which was taking water from sewage-polluted sections of the Thames , had a cholera rate fourteen times that of those supplied by Lambeth Waterworks Company , which obtained water from the upriver, cleaner Seething Wells. Sandra Hempel did a fantastic job with grabbing attention of the reader and her experience with journalism really shows itself in this book. He then repeated the procedure for the delivery of her daughter three years later. View 2 comments. Episode 6. The author did a wonderful job of keeping me interested in what could have been a fairly dry subject.
    [Show full text]
  • Pharmaceutical Sales Representatives
    [Chapter 4, 28 April] Chapter 4 Pharmaceutical sales representatives Andy Gray, Jerome Hoffman and Peter R Mansfield The presence of pharmaceutical industry sales representatives almost seems a fact of life at many modern medical centres and universities around the world. Many medical and pharmacy students come into contact with pharmaceutical industry sales representatives during their training. Later on in the careers of many health professionals, encounters with sales representatives can occur on a daily basis, taking up a substantial portion of a busy health professional s time. However, health professionals have a choice in the matter - they may choose not to see pharmaceutical sales representatives at all or they may attempt to manage such interactions.’ This chapter aims to provide information to help you make up your own mind on this issue. This choice has important consequences for health professionals practice and patients, so requires careful consideration. ’ Aims of this chapter By the end of the session based on this chapter, you should be able to answer a series of questions on your interactions with sales representatives: In what ways, if any, might I hope to benefit from meeting with sales representatives? How are sales representatives selected, trained, supported and managed? What information do sales representatives provide? How might contact with sales representatives influence me in a positive or negative way? Should I have contact with sales representatives at all? Is it possible, if I choose to have contact with sales representatives, to minimise the potential harm and maximise the potential benefit for my professional development and practice? This chapter presents evidence that we believe can be helpful in addressing these questions, and ends with a series of activities that will allow students to work on the issue in more depth.
    [Show full text]
  • Economic Cost of the Health Impact of Air Pollution in Europe Clean Air, Health and Wealth Abstract
    Economic cost of the health impact of air pollution in Europe Clean air, health and wealth Abstract This paper extends the analyses of the most recent WHO, European Union and Organisation for Economic Co-operation and Development research on the cost of ambient and household air pollution to cover all 53 Member States of the WHO European Region. It describes and discusses the topic of air pollution from a Health in All Policies perspective, reflecting the best available evidence from a health, economics and policy angle and identifies future research areas and policy options. Keywords AIR POLLUTION COST OF ILLNESS ENVIRONMENTAL HEALTH HEALTH IMPACT ASSESSMENT HEALTH POLICY PARTICULATE MATTER Address requests about publications of the WHO Regional Office for Europe to: Publications WHO Regional Office for Europe UN City Marmorvej 51 DK-2100 Copenhagen Ø, Denmark Alternatively, complete an online request form for documentation, health information, or for permission to quote or translate, on the Regional Office website (http://www.euro.who.int/pubrequest). Citation advice: WHO Regional Office for Europe, OECD (2015). Economic cost of the health impact of air pollution in Europe: Clean air, health and wealth. Copenhagen: WHO Regional Office for Europe. © World Health Organization 2015 All rights reserved. The Regional Office for Europe of the World Health Organization welcomes requests for permission to reproduce or translate its publications, in part or in full. The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the World Health Organization concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries.
    [Show full text]
  • Biobanks for Europe
    KI-NA-25-302-EN-C This expert group report on the ethical and regulatory challenges of international biobank research has been authored by an interdisciplinary group with experts from science, law, governance and ethics. Biobanks for Biobank research is rapidly evolving, and in close interaction with developments in informatics and genomics. The size and breath of the collections of biological samples and associated data that can be Europe assembled has increased exponentially. This opens up a vast range of new options for research and diagnosis, but at the same time also holds an important challenge for the governance of these activities. In this report, the expert group makes speci c recommendations for good A Challenge for Governance governance of Biobanks Research and Innovation policy Research and Innovation ed205134cover_BAT.indd 1-3 11/06/12 09:14 How to obtain EU publications Free publications: • via EU Bookshop (http://bookshop.europa.eu); • at the European Union’s representations or delegations. You can obtain their contact details on the Internet (http://ec.europa.eu) or by sending a fax to +352 2929-42758. Priced publications: • via EU Bookshop (http://bookshop.europa.eu). Priced subscriptions (e.g. annual series of the O cial Journal of the European Union and reports of cases before the Court of Justice of the European Union): • via one of the sales agents of the Publications O ce of the European Union (http://publications.europa.eu/others/agents/index_en.htm). EUROPEAN COMMISSION Directorate-General for Research and Innovation Directorate B — European Research Area Unit B6 — Ethics and gender Contact: Lino PAULA European Commission B-1049 Brussels E-mail: [email protected] ed205134cover_BAT.indd 4-6 11/06/12 09:14 EUROPEAN COMMISSION Biobanks for Europe A challenge for governance Report of the Expert Group on Dealing with Ethical and Regulatory Challenges of International Biobank Research Chair: Herbert Gottweis Rapporteur: Jane Kaye Members: Fabrizia Bignami, Emmanuelle Rial-Sebbag, Roberto Lattanzi, Milan Macek Jr.
    [Show full text]
  • Industry Pharmacy Practice Certificate Course
    Industry Pharmacy Practice Certificate Course Commercialization of Pharmaceuticals: Form A to Z and the Growing Role for Industry Pharmacists Online Course; 8 modules Target Audience: This certificate course is designed to meet the growing demand in preparing student pharmacists, recent graduates, or younger professionals interested in a career in Industry. Course Description While the number of traditional pharmacy practice positions has been stagnant in recent years, the number of pharmacy schools across the U.S. continues to grow. In 2016 alone, it is expected that between 14,000-15,000 additional PharmDs will enter the workforce, which represents more than double the number of graduates produced in 2001.1 This has led some to predict a looming employment crisis for the pharmacy profession.1,2 Meanwhile, the interest in pursuing a non-traditional professional path has expanded, particularly as such opportunities have increased beyond the realm of community and hospital pharmacies.3 One such avenue for a pharmacist is a career in the pharmaceutical industry, where knowledge and awareness is increasing for new pharmacy graduates and established pharmacists. This career route allows pharmacists to utilize their clinical knowledge to impact patient health on a broader scale.3 The pharmaceutical industry including all of the organizations that support it offers exciting and professional challenges and opportunities for pharmacist graduates. Consistent with the changing roles of pharmacists in traditional healthcare practice settings, industry has also undergone significant changes resulting in a growing diversity of positions that are being filled by pharmacists throughout the commercialization process of pharmaceutical products. This course explores various aspects of pharmaceutical commercialization from drug development and regulatory approval to marketing and sales strategies through life-cycle management.
    [Show full text]
  • Pharmaceutical Opioid Marketing and Physician Prescribing Behavior
    Pharmaceutical Opioid Marketing and Physician Prescribing Behavior Svetlana N. Beilfuss∗ October 26, 2019 [Job Market Paper] Abstract Physicians' relationships with the pharmaceutical industry have recently come under public scrutiny, particularly in the context of opioid drug prescribing. This study examines the effect of doctor-industry marketing interactions on subsequent prescribing patterns of opioids using linked Medicare Part D and Open Payments data for the years 2014-2017. Results indicate that both the number and the dollar- value of marketing visits increase physicians' patented opioid claims. Furthermore, direct-to-physician marketing of safer abuse-deterrent formulations of opioids is the primary driver of positive and persistent spillovers on the prescribing of less safe generic opioids - a result that may be driven by insurance coverage policies. These findings suggest that pharmaceutical marketing efforts may have unintended public health implications. Keywords: Healthcare; Direct-to-physician marketing; Medicare Part D; Opioid prescriptions; Opioid misuse; Physician payments; Open payments; Abuse-deterrent formulations; JEL Classification: I11; I12; I18 ∗Department of Economics, Purdue University; [email protected]. Please check my website at www.svetlanabeilfuss.com for an up-to-date version of the draft. 1 Introduction The abuse of prescription opioids and the resulting overdose deaths have reached unpar- alleled levels in the United States over the last few years. In 2016, 63,632 individuals died from drug overdoses, with 66.4% of the cases involving opioids. Among opioid-related deaths, 40.4% involved prescription opioids (Centers for Disease Control and Prevention, 2018). Furthermore, two million people in the United States suffer from opioid addiction due to prescription opioid drugs (Schuchat et al., 2017).
    [Show full text]
  • Nber Working Paper Series Pharmaceutical Use
    NBER WORKING PAPER SERIES PHARMACEUTICAL USE FOLLOWING GENERIC ENTRY: PAYING LESS AND BUYING LESS Peter J. Huckfeldt Christopher R. Knittel Working Paper 17046 http://www.nber.org/papers/w17046 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2011 This paper has benefited substantially from conversations with Hilary Hoynes, Doug Miller, Marianne Page, Ann Huff Stevens, and seminar participants at UC Davis and UC Berkeley. Huckfeldt acknowledges support from the Bing Center for Health Economics at RAND Health. All remaining errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2011 by Peter J. Huckfeldt and Christopher R. Knittel. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Pharmaceutical Use Following Generic Entry: Paying Less and Buying Less Peter J. Huckfeldt and Christopher R. Knittel NBER Working Paper No. 17046 May 2011 JEL No. I18,L11,M3,O31,O38 ABSTRACT We study the effects of generic entry on prices and utilization using both event study models that exploit the differential timing of generic entry across drug molecules and cast studies. Our analysis examines drugs treating hypertension, high blood pressure, type 2 diabetes, and depression using price and utilization data from the Medical Expenditure Panel Survey.
    [Show full text]