Pricing Trend of Brand Name Anticancer Drugs: An Empirical Investigation from the Perspectives of Firm Strategies
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2016
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Haverford College. Department of Economics
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Thesis
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Award
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eng
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Abstract
In this thesis, I investigate the trend of prices of the innovative anticancer drugs approved by the FDA from 1996 to 2016. I focus specifically on firms’ long term pricing strategy in response to the market competition. I also study on the firms’ behavior of introducing newer versions as a way to combat generic entry (Duggan and Morton 2006). Using the data on the market list prices from January 1996 to March 2016 on different versions of anticancer drugs, I find that after generic entry, the price of newer version drugs rise significantly faster than the average rise of prices of drugs when first introduced. This study is the first attempt in the economics literature to describe the pricing trend of anticancer drugs.