美國(guó)制藥業(yè)瑞銀美國(guó)通用價(jià)格監(jiān)測(cè)（5月份）

1、investmentresearchThisrepthasbeenpreparedbyUBSSecuritiesLLC.ANALYSTCERTIFICATIONREQUIREDDISCLOSURESBEGINONPAGE16.UBSdoesseekstodobusinesswithcompaniescoveredinitsresearchrepts.Asaresultinvestsshouldbeawarethatthefirmmayh

2、aveaconflictofinterestthatcouldaffecttheobjectivityofthisrept.Investsshouldconsiderthisreptasonlyasinglefactinmakingtheirinvestmentdecision.??GlobalResearch13June2019USPharmaceuticalsUBSUSGenericPricingMonit–MayUSGeneric

3、priceerosionstable:May19was10.0%UBSEvidenceLabFigure2:MMUSgenericpricechangesSource:UBSResearchUBSEvidenceLabThedistributionofpricechangesisarguablymeimptanttothegenericindustrythansimplegenericpriceerosion.Nimblegeneric

4、manufacturersthatarequicklyabletoreacttosupplydisruptionscanbothtakevolumealsotakeanoutsizedpriceincrease.Converselygenericmanufacturerscanbehithardbyoutsizedpricedecreasesthusknowingtheaveragepriceerosionmaynotgiveyouan

5、accuratepictureofwhatisgoingon.InMay2019manufacturerstookpriceincreasesof50%on343productsvs.352317inApr19Mar19respectively.OntheotherextremeInMay19manufacturersloweredprice50%on410productsvs.473485inApr19Mar19respectivel

6、y.14.2%16.2%17.0%13.6%14.3%15.5%12.8%12.8%9.5%9.9%9.0%8.9%11.1%8.9%8.4%11.0%8.1%6.8%8.4%8.3%12.3%11.0%10.4%10.0%25.0%20.0%15.0%10.0%5.0%0.0%Jun17Jul17Aug17Sep17Oct17Nov17Dec17Jan18Feb18Mar18Apr18May18Jun18Jul18Aug18Sep18

7、Oct18Nov18Dec18Jan19Feb19Mar19Apr19May191.0%0.9%3.9%0.2%1.3%2.1%0.8%0.1%1.1%2.1%0.2%0.6%2.9%1.7%0.2%1.1%2.3%0.4%0.6%4.5%0.9%0.9%0.3%2.9%0.3%1.0%2.9%1.8%0.9%0.6%1.0%0.5%0.8%0.0%0.4%5.0%4.0%3.0%2.0%1.0%0.0%1.0%2.0%3.0%4.0%