ArticlePloS one2025
The impact of the centralized volume-based procurement policy on Chinese pharmaceutical manufacturing firms' R&D investment: A difference-in-differences approach.
Article in PloS one, 2025. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 4 papers.
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Who cites it
4 citing papers in PubMed.
- The impact of China's National Drug Centralized Procurement Policy on pharmaceutical firm innovation: evidence from a staggered difference-in-differences analysis.Journal of pharmaceutical policy and practice · 2026Article
- Heterogeneous stock market responses to pharmaceutical policy events across subsectors and time scales: Evidence from China.PloS one · 2026Article
- Effects of national volume-based procurement policy on the usage and expenditure of platinum antineoplastic drugs in China: an interrupted time series study.Frontiers in pharmacology · 2025Article
- Impact of National Drug Price Negotiation policy on the innovation performance of biopharmaceutical industry in China.Frontiers in public health · 2025Article
Corrections and comments
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Authors and funding
5 authors.
Funding
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Abstract
Centralized drug procurement is a common practice worldwide to relieve the healthcare burden and promote high-quality development in the pharmaceutical industry. However, scholars have not yet reached an agreement on whether centralized procurement can facilitate the innovation activities of pharmaceutical firms. China's centralized volume-based procurement (CVBP) implemented in 2018 provides an ideal quasi-natural experiment to evaluate the effect of centralized procurement on the R&D investment of the firms. Drawing data from listed manufacturing firms in China's A-share market (2015-2020), the results from a difference-in-differences analysis with different model specifications indicate that the CVBP significantly promotes the pharmaceutical manufacturing firms' R&D investment. Moreover, the positive effect of the CVBP on R&D investment is stronger in pharmaceutical manufacturing firms with high marketing expenses. A series of robustness tests including the parallel trend test, placebo test, and the PSM-DID analysis show that our findings are solid. This paper advances our understanding of centralized procurement in emerging markets and provides new insights into how governments and pharmaceutical manufacturing firms can strengthen innovation.
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