ArticleHealth economics review2020
Is greater generic competition also linked to lower drug prices in South Korea?
Article in Health economics review, 2020. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 7 papers.
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Who cites it
7 citing papers in PubMed.
- Evaluating factors associated with pharmaceutical price variation, dispersion and higher-tier pricing in Malaysia's public segmented procurement system: exploring market competition.Journal of pharmaceutical policy and practice · 2026Article
- Multi-channel pricing strategies for pharmaceutical supply chains considering channel power and price competition.PloS one · 2025Article
- Comparison of generic drug prices in Korea and eight high-income countries across four therapeutic classes.PloS one · 2025Article
- Which factor reduces pharmaceutical expenditure, number of entrants or price variance? Updated generic drug markets in South Korea.Health economics review · 2024Article
- Does the first generic exclusivity system provide an economic incentive for early generic entrance under the patent linkage system?Frontiers in public health · 2023Article
- Analysis of the Korean generic medicine market: Factors affecting the market share of generic medicines.Clinical and translational science · 2022Article
- Who initiates price competition when generic entrants are introduced into the South Korean pharmaceutical market?Frontiers in public health · 2022Article
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Abstract
backgroundAlthough the association between the price of generic drugs and market competitiveness has been explored in various high-income countries, this association has not been empirically evaluated in South Korea. We aim to determine the association between the prices of generic drugs and market competitiveness in South Korea.
methodsA list of originator drugs approved by the national authority from 2000 to 2019 and their corresponding generic drugs were grouped along with the baseline information. The market was categorized into four groups based on the number of manufacturers: duopoly (2 manufacturers); low- (3-25 manufacturers); medium- (26-75 manufacturers); and high-competition (more than 76 manufacturers) markets. Price variance, calculated as the difference between the maximum price and minimum price divided by the maximum price, was obtained. A multivariate regression model was applied to regress price variance on the characteristics of market competitiveness, controlling for the characteristics of the originator drugs and their price level in the market.
resultsA total of 986 originator drugs were identified and then divided into duopoly (31%), low- (56%), medium- (9%), and high-competition (4%) markets; the median of the price variance for these markets was 0.013, 0.077, 0.200, and 0.228, respectively. In a multivariate regression model, price variance was associated with the characteristics of the originator drug, including the Anatomical Therapeutic Chemical classification, the route of administration, and the approval year. Controlling for the characteristics of the originator drugs, market competitiveness was positively associated with price variance.
conclusionsThe positive association between price variance and market competitiveness is still consistent in South Korea, where rare price competition among a large number of generic manufacturers has been reported. However, no significant price variance was observed between medium- and high-competition markets. These findings support policies for managing a large number of generic manufacturers in South Korea.
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