New study: Parallel import of pharmaceuticals in Denmark led to savings of DKK 610 million in 2018

Based on data from parallel traders in Denmark, we find that the total savings from parallel import of pharmaceuticals in 2018 amounted to DKK 610 million, or 3% of the total expenditure on pharmaceuticals in Denmark.

Parallel import of pharmaceuticals has taken place in Denmark and the rest of the EU since the 1970s. In 2018, parallel imports accounted for 14% of turnover in the Danish market for medicinal products.

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For further information, please contact Søren Brenøe

GCR 2020: Economics continues to increase its presence in European Union competition cases

Copenhagen Economics has interviewed DG Competition and a large number of Brussels based law practices. The majority recognises that, consistent with last year’s findings, the use of economic analysis in competition cases continues to expand.

This chapter further touched upon a number of topics that received recent attention in the European competition enforcement debate. We asked lawyers to reflect on the broader potential implication of digital competition; we discussed excessive pricing cases that are seen with increased frequency in pharmaceutical industry; and asked about their opinion on recent political pressures to let industrial policy considerations enter the EU competition regulation framework.

Learn more in the Handbook of Competition Economics’ chapter on The European Union, written by Claus Kastberg Nielsen, Adina Claici, Federico De Michiel.

An extract from GCR’s Competition Economics Handbook 2020, first published in November 2019.

For further information, please contact Claus Kastberg Nielsen

Heidi Partanen joins Copenhagen Economics

Copenhagen Economics is proud to announce the hiring Heidi Partanen. She joins our Helsinki office.

Heidi is hired as a Researcher but will become a full-time Analyst in January as soon as she graduates. She is currently finishing a M.Sc. in Economics at Aalto University, School of Business, in Helsinki.

New study: New financial regulatory package has negative real-economy impact

A new regulatory package, called the Final Basel III Framework, can have significant negative effects on the real-economy. The higher levels of required capital will increase the borrowing costs for European households and businesses of some 0.12-0.16 percentage points, corresponding to a price increase of 5-7%.

We find this could lead to a permanent reduction in GDP of around 0.5%. In contrast, with the level of recapitalisation that EU banks have achieved since the crisis, any additional layer of capital adds only insignificant improvements to the financial stability.

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For further information, please contact Jonas Bjarke Jensen

The Handbook of Competition Economics 2020 is published!

Copenhagen Economics has interviewed the DCCA and 9 prominent Danish competition lawyers for the chapter on Denmark. This chapter focuses on some of the most notable cases from the past year, e.g. the high-profile merger of the insurance companies Tryg and Alka in which the DCCA applied merger simulations.

Learn more in the Handbook of Competition Economics’ chapter on Denmark, written by Henrik Ballebye Okholm and Torben Thorø Pedersen.

An extract from GCR’s Competition Economics Handbook 2020, first published in November 2019 

For further information, please contact Henrik Ballebye Okholm