Conference
Seminar on the Social Study of Health and Medicines
- Date:
- 17 Mar 04
- Venue:
- University Carlos III, Madrid, Spain
- Host:
- organised by SESAM
- Outline
- Jorge Mestre-Ferrandiz discussed the Pharmaceutical Price Regulation Scheme (PPRS) and the impact of the 1998 Competition Act on the Pharmaceutical Market in the UK. The PPRS is the economic tool used by the UK government to regulate prices of branded medicines...
- Full Description
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sold to the NHS. The 1998 Competition Act, is the new competition law enforced in the UK in March 2000. Jorge explored how these two methods of regulation interact, given that the Office of Fair Trading (OFT) fined a pharmaceutical company, which was satisfying the PPRS, for an abuse of a dominant market position. In addition to the fine, the OFT imposed additional regulatory constraints on the price of the particular medicine investigated. Jorge concludes that the introduction of the 1998 Competition Act is an event of major importance in the UK as a whole, and has made the UK pharmaceutical market tougher.