Economics at the FTC: Drug and PBM Mergers and Drip Pricing |
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Authors: | Howard A Shelanski Joseph Farrell Daniel Hanner Christopher J Metcalf Mary W Sullivan Brett W Wendling |
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Institution: | 1. Federal Trade Commission, Bureau of Economics, 600 Pennsylvania Ave., N.W., Washington, DC, 20580, USA 2. Department of Economics, University of California, Berkeley, CA, 94720, USA
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Abstract: | Economists at the Federal Trade Commission pursue the agency??s competition and consumer protection missions. In this year??s essay, in antitrust, we discuss two recent mergers that involved Rx drugs: First, we describe key elements of the inquiry into the Express Scripts/Medco transaction in the pharmacy benefit management industry. Next, we analyze a merger that involved drugs that are used to treat patent ductus arteriosus: a condition that affects premature babies. On the consumer protection side, we discuss a pricing strategy??drip pricing??that involves the release of price information about a multi-part product over time as the consumer goes through the purchase process. |
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