info:eu-repo/semantics/bachelorThesis
Análisis del mercado de medicamentos en Colombia
Fecha
2014-01-01Registro en:
272780
instname: Universidad Icesi
reponame: Biblioteca Digital
Autor
García Varela, Lina Marcela
Llano Rojas, Laura Elena
Institución
Resumen
This document presents an analysis of the effect of horizontal mergers in the colombian
pharmaceutical market among Sanofi, Genfar, Pfizer and Wyeth laboratories, over price and
quantities sold. Using data from the Ministerio de Salud y Protección Social, the DIAN and the
Sistema de Información y Riesgo Empresarial de la Superintendencia de Sociedades (SIREM),
indexes were calculated for the variables weighted average price, total assets, cash flow, total
liabilites, total equity, exports, imports and market share. In addition, a diff-in-diff model was
specified to see the effect of mergers in certain variables of interest. The main results show that
the pharmaceutical market is highly competitive and for this reason there are incentives to
merge. Additionally, it was found that the market share of the laboratories was reduced after
integration. This contradicts the theory of horizontal mergers, because they are not only done to
get more market power or increase market share, but to strengthen the merged companies.