Paying the right price for pharmaceuticals: a case study of why the comparator matters
Author(s)
Spinks, Jean M
Richardson, Jeff RJ
Griffith University Author(s)
Year published
2011
Metadata
Show full item recordAbstract
This article considers the pricing policy for pharmaceuticals in Australia, which is widely seen as having achieved low drug prices. However, compared to New Zealand, the evidence implies that Australia might have improved its performance significantly if it had proactively sought market best pricing. The Australian record suggests that the information sought by authorities may not be sufficient for optimal pricing and that the economic evaluation of pharmaceuticals may be neither necessary nor sufficient for achieving this goal.This article considers the pricing policy for pharmaceuticals in Australia, which is widely seen as having achieved low drug prices. However, compared to New Zealand, the evidence implies that Australia might have improved its performance significantly if it had proactively sought market best pricing. The Australian record suggests that the information sought by authorities may not be sufficient for optimal pricing and that the economic evaluation of pharmaceuticals may be neither necessary nor sufficient for achieving this goal.
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Journal Title
Australian Health Review
Volume
35
Issue
3
Subject
Medical and Health Sciences not elsewhere classified