| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26846 |
| 来源ID | Working Paper 26846 |
| Rebates in the Pharmaceutical Industry: Evidence from Medicines Sold in Retail Pharmacies in the U.S. | |
| Pragya Kakani; Michael Chernew; Amitabh Chandra | |
| 发表日期 | 2020-03-16 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Rising list prices are often used to illustrate the burden of prescription drug spending, but payers routinely negotiate rebates from manufacturers that generate differences between list and net prices. List prices are easily available and affect patient cost-sharing, but net prices are confidential and affect innovation incentives. We use novel data on medicines sold in a retail setting to quantify rebate growth, the sensitivity of pharmaceutical price indices to list versus net prices, and contribution of net price growth to revenue growth. From 2012 to 2017, we find average rebates increased from 32% to 48%, owing entirely to growth in rebate-levels over a product lifetime rather than shifts towards high rebate products. Annual inflation of list prices was 12% while that of net prices was 3%, implying that financial rewards to manufacturers per unit sold have not grown proportionally to list prices. This pattern is mirrored in 19 of the 20 top drug classes by revenue including insulins, where list and net price inflation were 16% and 2% annually respectively. Finally, we find price growth explains 76% of revenue growth when measured by list prices but 31% of revenue growth when measured by net prices. Moreover, new product entry is the most important factor affecting pharmaceutical revenue growth. These findings provide a cautionary note on using list prices for policy analysis. |
| 主题 | Health, Education, and Welfare ; Health |
| URL | https://www.nber.org/papers/w26846 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584519 |
| 推荐引用方式 GB/T 7714 | Pragya Kakani,Michael Chernew,Amitabh Chandra. Rebates in the Pharmaceutical Industry: Evidence from Medicines Sold in Retail Pharmacies in the U.S.. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26846.pdf（1406KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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