Is greater generic competition also linked to lower drug prices in South Korea?

Health Economics Review

Table 2 Adjusted association between generic competition and drug prices

Variables	The Simple Model			The Expanded Model
Variables	Estimates	Standard Error	P-value	Estimates	Standard Error	P-value
ATC (reference J/L)
2 (A/B/C)	−0.0193	0.0131	0.1409	0.0017	0.0133	0.8974
3 (M/N)	0.0220	0.0149	0.1415	0.0395	0.0156	0.0114
4 (Others)	−0.0498	0.0151	0.0010	−0.0254	0.0150	0.0904
Route (reference Oral)
Injection	−0.0342	0.0117	0.0035	−0.0309	0.0138	0.0255
Others	−0.0444	0.0133	0.0009	−0.0337	0.0139	0.0153
Year	−0.0066	0.0007	< 0.0001	−0.0045	0.0007	< 0.0001
Types (reference Chemicals)
Biologics	−0.0175	0.0186	0.3475	−0.0457	0.0180	0.0114
Market (reference Duopoly)
2 (3–25)				0.0396	0.0080	< 0.0001
3 (26–75)				0.1473	0.0198	< 0.0001
4 (76 -)				0.1650	0.0259	< 0.0001
New drug application (reference No)
Yes				0.0430	0.0141	0.0024
Manufacturers (reference Domestic)
Overseas				0.0087	0.0100	0.3836
Price (reference < 10³ KRW)
II (10³ ≤ < 10⁴)				0.0418	0.0108	0.0001
III (10⁴ ≤ < 10⁵)				0.0422	0.0158	0.0076
IV (10⁵ ≤ < 10⁶)				0.0799	0.0271	0.0033
V (10⁶≤)				0.1023	0.0371	0.0060

ISSN: 2191-1991