Wholesale Prices of Drugs Approved by European Medicines Agency (EMA) in Cities Across UK (Research Proposal Sample)

A Price Comparison of RX-OTC Switched Drugs in the United Kingdom: The Impact of Indirect Price Controls
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Abstract
Switching medicines from prescription to non-prescription using various safety profiles enhances a timely access to medication to the consumers. Besides, reclassifying medicine also reduces the risk of under-treatment by strengthening self-management. However, the population is exposed to ruthless cartels that lead to variations in the prices of RX-OTC switched drugs. This paper seeks to examine the wholesale prices of drugs approved by the European Medicines Agency (EMA) in cities across the United Kingdom. The study will hence provide the price trends of the medicines in response to the RX-to-OTC switch. Besides, a difference-in-difference approach is used to examine the impact of indirect price controls in the OTC drugs in the UK before and after the reclassification.
KEYWORDS
RX-OTC, United Kingdom, difference-in-difference (DiD), MHRA, OTC
Introduction
The United Kingdom has had a policy supporting switching from prescription to non-prescription hence leading the world in the switch. However, Gauld et al. (2014) argue that evidence supporting the reclassification of medicines in the UK is still inconclusive. The government policy encourages self-care with an intention to improve consumer access and reduce the costs of funding the health sector. In reference to Rizzo, Ozminkowski and Goetzel (2005) drugs are switched for consumer empowerment and cost control. Opting for OTC medicine depicts a greater personal choice and self-administration as their use involves greater consumer autonomy.