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KMID : 1170320070130010117
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Korean Journal of Health Economics and Policy
2007 Volume.13 No. 1 p.117 ~ p.138
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Estimating market share function of generic drugs after patent expiration in Korea
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Oh Keun-Yeob
Kim Bong-Han
Kim Tae-Gi
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Abstract
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This paper estimates the market share function of the generic drugs in Korean pharmaceutical market. The generic drugs are taking over the market of the original brand medicines very quickly after patent expiration. We used IMS data to confirm how quick these generics take over the existing market. In particular logistic function and nonlinear least square method with numerical optimization method are used to get the exact functional form. We found that our estimated function fits the real data very well. After 5 ~6 years, the market share tends to converge to 53% of the original market.
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KEYWORD
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FTA, patent, generic, market share, Logistic function
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