现代产业经济学系列讲座第244期

时   间：2023年6月6日（周二）15:00-16:30

地   点： 管理学院思源楼326室

题   目：Excessive Pharmaceutical Marketing Expenditure: Social Costs and Policy Remedies from China

主讲人：Chenyuan Liu    Assistant Professor

主持人：邵翔    副教授

摘   要：

Many developing countries face high pharmaceutical prices despite the existence of multiple producers of generic versions of drugs. One reason is that drug firms spend excessively on sales and marketing efforts. In this paper, we quantify the social costs of hidden pharmaceutical marketing expenditures by leveraging a policy experiment in China. Under the policy, certain generic drugs were procured via centralized auctions in pilot cities. We estimate that the centralized auction effectively reduced the prices of procured drugs, leading the expenditures on these drugs to fall by 32% on average. The policy also changes the cost structure of the firms. We find that firms winning the auction in experienced a significant decline in sales and marketing expenditure, suggesting that the pre-policy high drug price was driven by excessive marketing expenditure.

主讲人简介：

Chenyuan Liu is an Assistant Professor of Economics at the School of Economics and Management at Tsinghua University. Her research interests are in health economics and industrial organization. She has published her works in journals including American Economic Journal: Economic Policy and Journal of Health Economics.

应用经济学系

2023-5-31