Valuing the Drug Information Provided for Generics in Setting the Price of Generic Drugs in Japan

Iijima, Hisashi; Kurosaki, Teruyo; Kamei, Miwoko; Koshimizu, Toshimasa; Shiragami, Makoto

doi:10.1177/009286150403800305

Cited by 5 publications

(4 citation statements)

References 2 publications

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“…Policies to expand generic penetration could be enacted to address the issue (Iijima et al, 2004;Iizuka and Kubo, 2011;Jakovljevic et al, 2014). We demonstrated that latecomers steadily enter the market even after the market has been saturated by a number of generic drugs with expected profits that are mainly the result of the price of the drugs.…”

Section: Extraordinary Pharmaceutical Market In South Koreamentioning

confidence: 92%

Marketing and Pricing Strategies of Blockbuster Drugs in the South Korean Market: A 15-Year Retrospective Cohort Study for Choline Alfoscerate

et al. 2020

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Introduction: Understanding marketing strategies and price competition among manufacturers is essential to manage health care expenditures, particularly those related to blockbuster drugs. Objectives: To assess marketing and pricing strategies of blockbuster drugs in South Korea. Methods: Baseline information on manufacturers who were granted marketing approval for choline alfoscerate in various forms was retrieved. Accumulation of manufacturers in the market was also identified, and manufacturers were categorized into first movers and latecomers based on their marketing time. Then, an event history analysis and a regression analysis were applied to estimate the duration of marketing and their price competition. Results: Currently, 109, 83, and 26 manufacturers produce choline alfoscerate in capsule, tablet, or syrup form, respectively, indicating that many manufacturers have marketed generics and the majority of the generics are categorized as latecomers. The size of the manufacturer was a significant factor in marketing new medicines, while the variable was not related to the marketing of modified drugs. Furthermore, price competition in the market was rare and only a few major firms initiated price competition. Conclusion: The Korean market appears to be an example of perfect competition when we focus on the number of manufacturers. However, the market is near-monopolistic when examining the price of generic drugs. While product competition between different forms of drugs is effective in lowering price, product competition within the same form of a drug does not exist in the market.

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Section: Extraordinary Pharmaceutical Market In South Koreamentioning

confidence: 92%

Marketing and Pricing Strategies of Blockbuster Drugs in the South Korean Market: A 15-Year Retrospective Cohort Study for Choline Alfoscerate

et al. 2020

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“…It is also important to point out the studies on consumer behavior, pharmacy type, and package inserts which are often overlooked (Innovation & Shiragami, 2015; Weijters et al, 2018). These can be considered micro‐influencers that impact biotherapeutic prices.…”

Section: Resultsmentioning

confidence: 99%

Emerging themes and factors influencing the prices of biotherapeutics

Gandhi

Kashiramka

Rathore

2023

World Med & Health Policy

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The high prices of biotherapeutics remain an area of concern for various national and international agencies working toward developing strategies for monitoring, evaluating, and managing the prices of medicines to promote equitable access. This paper deploys a unique study design to identify emerging themes and determine the elements influencing the price of biotherapeutics specifically biosimilars. This review is based on a bibliometric and qualitative synthesis approach to generate a new line of thinking for future studies. The findings enable knowledge assimilation for policy decisions. The results indicate that while the factors like market share, market competition, and pricing policies are extensively explored by researchers, the factors such as innovation capability, product development costs, and local factors like regulatory ecosystem can be further examined as potential influencers of prices. Further, pricing frameworks and regulations designed for generic drugs cannot be replicated to estimate the prices of biotherapeutics. As a result, policymakers must take the necessary actions to construct innovative pricing frameworks for this class of products that are in conformity with national policies, regulations, market dynamics, and economics. Moreover, studies on incentives and profit margins associated with the last‐mile delivery and accessibility of high‐cost biotherapeutics are essential for their efficient adoption.

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“…Among the most common causes of insufficient substitution recommendation by physicians and pharmacists comes rather lower quantity and quality of information inside drug package insert compared to the originals [32,33]. Iijima et al have pointed out that evaluation of texts of generic drug package inserts could be used as a selection criteria to distinguish among plenty of generic manufacturers offering the same or similar active compounds in the market [34].…”

Section: Drug Information Insufficiency Attributed To Generic Manufacmentioning

confidence: 99%

“…An in-depth analysis of 14 different active ingridients each represented by at least 20 different commercially available products (327 product items) resulted in almost double higher quantity of information in favour of innovator products with ratio being even higher when single companies are compared [32].…”

Section: Drug Information Insufficiency Attributed To Generic Manufacmentioning

confidence: 99%

Contemporary generic market in Japan – key conditions to successful evolution

Jakovljević

Nakazono

Ogura

2014

Expert Review of Pharmacoeconomics & Outcomes Research

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2 SummaryJapanese pharmaceutical market, world's 2 nd largest in size, is traditionally renowned for its brands' domination and weakest generics share among major established economies. An in depth observation of published evidence in Japanese/English language provided closer insight into current trends in Japanese domestic legislation and pharmaceutical market development. Recent governmental interventions have resulted in significant expansion of generic medicines market size. Substantial savings due to generic substitution of brand name drugs have already been achieved and are likely to increase in future. Nationwide population aging threatening sustainable health care funding is contributing to the relevance of generic policy success. Serious long-term challenge to the modest Japanese generic manufacturing capacities will be posed by foreign pharmaceutical industries particularly the ones based in emerging BRIC economies.

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Valuing the Drug Information Provided for Generics in Setting the Price of Generic Drugs in Japan

Cited by 5 publications

References 2 publications

Marketing and Pricing Strategies of Blockbuster Drugs in the South Korean Market: A 15-Year Retrospective Cohort Study for Choline Alfoscerate

Marketing and Pricing Strategies of Blockbuster Drugs in the South Korean Market: A 15-Year Retrospective Cohort Study for Choline Alfoscerate

Emerging themes and factors influencing the prices of biotherapeutics

Contemporary generic market in Japan – key conditions to successful evolution

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