?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=http%3A%2F%2Feprints.imtlucca.it%2F2981%2F&rft.title=Access+to+Medicines+and+European+Market+Integration&rft.creator=Pammolli%2C+Fabio&rft.creator=Rungi%2C+Armando&rft.subject=HB+Economic+Theory&rft.subject=HD+Industries.+Land+use.+Labor&rft.description=In+this+paper+we+document+a+process+of+price+convergence+in+the+European+market+for+pharmaceuticals+and+relate+it+to+access+to+innovative+medicines+in+individual+countries.+The+EU+is+a+peculiar+case+study%2C+where+free+circulation+of+goods+exists%2C+but+pricing+policies+are+designed+and+implemented+by+Member+States.+Thanks+to+a+unique+census+database+on+product+sales+and+launches%0D%0Afor+fifteen+EU+countries%2C+we+detect+a+process+of+price+convergence%2C+both+in+nominal+and+in+real%0D%0Aterms.+Therefore%2C+we+find+that+a+faster+rate+of+price+convergence+and+a+lower+income+per+capita+are%0D%0Aassociated+with+stronger+delays+in+launches+of+new+medicines.+Moreover%2C+country+delays+tend+to%0D%0Abe+higher+for+innovative+and+first+in+class+chemical+compounds.+Our+results+suggest+that+inefficiencies+arise+from+drugs+regulation%2C+when+countries+widely+differ+in+income+per+capita%2C+public+finance%0D%0Asustainability+conditions%2C+and+regulatory+frameworks.+Policies+of+external+reference+pricing+tend+to%0D%0Aexacerbate+welfare+losses.+A+policy+of+differential+pricing+is+suggested%2C+in+order+to+take+into+account%0D%0Aboth+therapeutic+value+and+willingness+to+pay.&rft.publisher=IMT+Institute+for+Advanced+Studies+Lucca&rft.date=2016-01&rft.type=Working+Paper&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.rights=cc_by_nc&rft.identifier=http%3A%2F%2Feprints.imtlucca.it%2F2981%2F1%2FWP_2016_1.pdf&rft.identifier=++Pammolli%2C+Fabio+and+Rungi%2C+Armando++Access+to+Medicines+and+European+Market+Integration.++EIC+working+paper+series++%231%2F2016++++IMT+Institute+for+Advanced+Studies+Lucca++++ISSN+2279-6894.++++(Submitted)+++