Anticompetitive Impact of Pseudo-Generics∗
نویسندگان
چکیده
A puzzling feature of pharmaceuticals markets is that sellers of branded drugs will, sometimes, sell generic versions of their own branded products, either directly or through license agreements. This paper proposes a new theoretical rationale for the fact that the introduction of these pseudogenerics may have anti-competitive effects. In a model that combines horizontal and vertical product differentiation, we show that the producer of the branded product will not sell the pseudo-generic unless faced with competition and that, if she does so, in some circumstances, all prices raise to the benefit of all competitors and the detriment of consumers.
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