Health

US Pharma Industry Report

By Dweep Chanana ⋅ October 4, 2006 ⋅  Email this post ⋅ Post a comment

Greg Mankiw’s blog alerted me to a report by the US Congressional Budget Office on the Pharmaceutical Industry.

It is certainly worth a read, and tries really hard to appear unbiased, presenting facts from both the supporters and critics of the industry. Every now and then, however, it dismisses the criticisms too quickly.

Regardless, I like how Greg Mankiw summarizes the industry:

Note to Ec 10 students: We will study industries with these features–high fixed costs and price well above marginal cost–later in the semester under the topic “Monopolistic Competition.”

My previous posts on this topic ring a similar bell.

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