Speedy generic approval may not benefit consumers as much as expected, mathematical model shows
Monday, March 7, 2011 - 00:31
in Mathematics & Economics
Faster approval times for generic drugs will get them into consumers' hands quicker, but may not make the price any better, a pricing and marketing researcher has found. A mathematical model shows that fewer firms enter the marketplace because the chances of getting there first and commanding the best profits are dramatically smaller when drug approval times are shorter.