The economic causes and consequences of US drug shortages
Since 2006, the U.S. has experienced a marked increase in prescription drug shortages. Three-quarters of shorted drugs in 2011 were sterile injectable products, such as chemotherapy, anesthesia and anti-infective agents and over 80% were generic drugs. Current shortages are remarkable for their significant persistence. This session aims to (1) identify organizational, financial and regulatory mechanisms likely underlying incident and persistent shortages and (2) examine current shortage implications for medical providers, patients and payers. Paper presentations and discussants were chosen for session inclusion to provide a systematic, empirical review of the nature of and trends in demand for these drugs by healthcare providers, their supply by manufacturers, and their price movements previous to and coincident with shortage reports. Session discussion will focus on evaluating the empirical merits of each presentation and placing such findings into the context of assessing current policy approaches to ameliorating shortages.