Stuck in the Middle: Welfare Effects of the European Pharmaceutical Markets' Incomplete Integration and a Possible Remedy

The paper focuses on the regulation and parallel trade for innovative in-patent medicines in the setting of a partially integrated EU-wide market for pharmaceuticals, the impact of different national and European level regulatory regimes, under which the prices for theses innovative medicines are set, on the strategic entry decisions of research oriented pharmaceutical enterprises (ROPEs), the consequences thereof for the innovative capacity of the European pharmaceutical industry and the overall welfare of the European citizens.