%0 Journal Article
%T The elasticity of drugs demand in Colombia¡¯s pharmaceutical market
%A Andr¨¦s Ram¨ªrez Hassan
%A Elkin Casta£¿o V¨¦lez
%A Johanna V¨¢squez Vel¨¢squez
%A Jos¨¦ Vicente Cadavid Herrera
%A Karoll G¨®mez Portilla
%J -
%D 2013
%R https://doi.org/10.17230/ecos.2013.36.7
%X Based on a dynamic specification of the AIDS model arisen from cointegration techniques, this research estimated the elasticity of the intra-molecular, brand and generic demand for three tracer conditions: essential hypertension, diabetes and hyperlipidemia both in the non-profit and private Colombian market. The estimate of the intra-molecular demand elasticity allows us to conclude that both brand-name and generic drugs are inelastic to price changes, they are luxury goods according to expenditure elasticity and intra-molecular replacement seems to exist due to the elasticity of substitution
%U http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/2162