Using the New York Times article, “Defiant, Generic Drug Maker Continues to Raise Prices,” conduct further research on the pricing strategies of generic drug manufacturers. In 750‐1,000 words, analyze the pricing strategies and discuss the following:
- Discuss the pricing decisions of generic drug manufacturers.
- Evaluate the impact competitors and additional economic factors have on the results of the generic drug pricing strategies. What factors contribute to the advantages and disadvantages of various pricing strategies?
- Discuss the social and financial implications of generic drug pricing decisions for various groups of stakeholders. What would be the socially optimum pricing strategy for the United States? What would be the socially optimum pricing strategy globally?
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Read “Generic Drugs Under Medicare: Part D Generic Drug Prices Declined Overall, but Some Had Extraordinary Price Increases,” by the U.S. Government Accountability Office (GAO) (2016), located on the GAO website.