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Drugs

Competition Problems in Prescription Drug Market

Although not the sole cause of high prescription drug costs, abusive practices that distort competition contribute to the problem. Too many companies...
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Preventing Drug Shortages and Saving Lives: The Role of Quality and Reliability Standards

Prescription drug shortages have become more common in recent years, interrupting usual medical care and increasing patient risk and system costs, but...
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What Is the Price of a Prescription Drug?

Due to lack of transparency and mystery rebates, which are considered trade secrets, figuring out the price of a prescription drug is...
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Paid to Show the Drug Works: Why “Blind” Clinical Trials for New Drugs are Far Less Blind Than They Should Be

New research shows that physicians in industry-sponsored trials are more captured by pharmaceutical companies than physicians in unsponsored ones.
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The Real Price of Health Data: Americans Don’t Want to Share Their Records for Free

The 2019 Chicago Booth/Kellogg School Financial Trust Index survey shows that 93 percent of participants don’t want to share their health data with digital...
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The Rise of the Opioids: How Purdue Invented New Markets for OxyContin

Purdue's strategy was to market its opioids directly to patients via brochures, videos, advertisements, and the internet. It also provided information to doctors and...
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The Generic Pharmaceutical Market Needs Competition. Non-Profits Can Provide It

JustMedicine is a non-profit that aims to introduce competition into the generic drug market by sponsoring generic entrants. The organization’s CEO explains why non-profit...
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Perverse Market Incentives Encourage High Prescription Drug Prices

Pharmacy benefit managers (PBMs) are the under-discussed market participants who manage prescription drug insurance for the vast majority of Americans. PBMs claim to be a lone...
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"The Pharmaceutical Industry Has a Large Amount of Control Over the Field of Oncology"

In the second part of our two-part interview with Daniel Goldstein, MD, an oncologist who studies the influence of business interests on healthcare, we talk...
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When Medical Experiments Serve the Business Needs of Pharmaceutical Firms Instead of Science

The first part of a two-part interview with Daniel Goldstein, MD, an oncologist who also studies the influence of business interests on healthcare—from treating patients...
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ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.

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