Abstract：
OBJECTIVE: In this article, we estimate the initial and temporal impacts of generic entry on benchmark drug prices as reimbursed through the Pharmaceutical Benefits Scheme of Australia and the degree to which further generic competition affects these prices under the current regulatory framework.
METHODS: We construct a panel data set consisting of 781 Pharmaceutical Benefits Scheme listed drugs over a 95-month time period and use fixed-effect regressions. The dynamic price effects of generic competition are investigated by implementing panel methods.
RESULTS: Our results suggest that generic entry into the Australian pharmaceutical market causes significant initial price reductions of approximately 31% and that successive generic entrants also act to further reduce drug prices. Through subgroup analyses, we identify that the effect of generic competition varies significantly according to the drug\'s therapeutic group and mode of drug administration and the dynamic analysis indicates that generic entry results in continuous price reductions even after large initial drops.
CONCLUSIONS: Generic competition reduces reimbursed drug prices in Australia to a greater extent than previous research has identified, although the average price effects can vary significantly depending on a drug\'s therapeutic group or mode of drug administration. Prices generally continue to fall significantly over time under the price disclosure mechanism.
METHODS: We construct a panel data set consisting of 781 Pharmaceutical Benefits Scheme listed drugs over a 95-month time period and use fixed-effect regressions. The dynamic price effects of generic competition are investigated by implementing panel methods.
RESULTS: Our results suggest that generic entry into the Australian pharmaceutical market causes significant initial price reductions of approximately 31% and that successive generic entrants also act to further reduce drug prices. Through subgroup analyses, we identify that the effect of generic competition varies significantly according to the drug\'s therapeutic group and mode of drug administration and the dynamic analysis indicates that generic entry results in continuous price reductions even after large initial drops.
CONCLUSIONS: Generic competition reduces reimbursed drug prices in Australia to a greater extent than previous research has identified, although the average price effects can vary significantly depending on a drug\'s therapeutic group or mode of drug administration. Prices generally continue to fall significantly over time under the price disclosure mechanism.
摘要：
目的：在本文中，我们估计了通过澳大利亚药品福利计划报销的仿制药进入对基准药品价格的初始和时间影响,以及在当前监管框架下进一步的仿制药竞争对这些价格的影响程度.
方法：我们构建了一个面板数据集，该数据集由781个药物福利计划在95个月的时间段内列出的药物组成，并使用固定效应回归。通过实施面板方法研究了通用竞争的动态价格效应。
结果：我们的结果表明，仿制药进入澳大利亚医药市场会导致初始价格大幅降低约31%，并且连续的仿制药进入者也会进一步降低药品价格。通过亚组分析，我们发现，仿制药竞争的效果根据药物的治疗组和给药方式而显著变化，动态分析表明，即使在初始大幅下降后，仿制药进入也会导致价格持续下降。
结论：与以前的研究所确定的相比，通用竞争在更大程度上降低了澳大利亚的报销药品价格，虽然平均价格的影响可能会有很大差异，这取决于药物的治疗组或给药方式。在价格披露机制下，随着时间的推移，价格总体上继续大幅下跌。
方法：我们构建了一个面板数据集，该数据集由781个药物福利计划在95个月的时间段内列出的药物组成，并使用固定效应回归。通过实施面板方法研究了通用竞争的动态价格效应。
结果：我们的结果表明，仿制药进入澳大利亚医药市场会导致初始价格大幅降低约31%，并且连续的仿制药进入者也会进一步降低药品价格。通过亚组分析，我们发现，仿制药竞争的效果根据药物的治疗组和给药方式而显著变化，动态分析表明，即使在初始大幅下降后，仿制药进入也会导致价格持续下降。
结论：与以前的研究所确定的相比，通用竞争在更大程度上降低了澳大利亚的报销药品价格，虽然平均价格的影响可能会有很大差异，这取决于药物的治疗组或给药方式。在价格披露机制下，随着时间的推移，价格总体上继续大幅下跌。
