Drug competition: The Waxman-Hatch Act revisited
This paper examines generic competition following the enactment of the 1984Waxman-Hatch Act. Unlike the existing literature, we employ antibiotics as a control group to infer legislation-induced increases in generic competition. Using FDA drug approval data, we find evidence that the Act enhanced generic competition, resulting in 1.5 times more competition between nonantibiotic drugs than between antibiotics. Moreover, the Act's overall impact is greater for newer drugs than older drugs. Copyright © by The Haworth Press, Inc. All rights reserved.
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