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MARKET POWER AND THE PHARMACEUTICAL INDUSTRY IN SOUTH AFRICA
Author(s) -
Djolov George G.
Publication year - 2004
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2004.00473.x
Subject(s) - monopoly , supply side , pharmaceutical industry , consumption (sociology) , demand side , industrial organization , market power , perspective (graphical) , business , supply and demand , economics , power (physics) , subject (documents) , market economy , commerce , microeconomics , microbiology and biotechnology , social science , physics , quantum mechanics , computer science , biology , library science , artificial intelligence , sociology
This paper examines the social cost of the pharmaceutical industry in South Africa. From a regulatory perspective the industry is seen to exhibit monopolylike behaviour resulting in monopoly prices on the supply (manufacturing) side and diminished consumption on the demand (consumer) side. The evidence presented here, which is complementary to that of previous studies, does not support that view. The findings contained here are relevant to the highly contentious subject of access to drugs.