Elgar original reference
Edited by Ariel Ezrachi
Chapter 21: Competition law and enforcement in the pharmaceutical industry
Some of the most challenging competition law issues today arise in the pharmaceutical industry. This chapter explores these issues, focusing on developments in the United States and European Union. It begins by explaining the unique setting of the industry. It then examines settlements by which brand-name drug companies pay generic firms not to enter the market. Next, it explores the issue of product hopping, which involves switches from one version of a drug to another. The chapter concludes by examining a range of potentially anticompetitive behaviour that has received attention in the European Union. The issues discussed in this chapter have direct effects on consumer welfare throughout the world. Consumers spend billions of dollars extra each year because of the behaviour. Beyond the financial costs, the conduct has severe consequences for public health, forcing patients to split pills in half or even to skip taking their medications.
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