Every year, Global Competition Review publishes a series of reports intended to offer detailed information to agencies and practitioners engaged in antitrust and competition work throughout the world. The 2019 edition of the review focused on Europe, the Middle East, and Africa (EMEA) includes an economics overview written by Analysis Group Vice President Joshua White, who is based in the firm's London office.
In their overview, Dr. Mishol and Mr. White focus on competition authorities' increasing scrutiny of the pharmaceutical industry over the past several years, which has resulted in several cases involving excessive pricing and “pay-for-delay” accusations. A key aspect of such cases is whether the drugs in question face competition from other products already on the market; this, in turn, requires an examination of market definition. Because the pharmaceutical market has several unique features that can complicate attempts to use existing market definition tools, Dr. Mishol and Mr. White describe a number of approaches that have been used in selected recent cases. They then outline some economic analyses that can be used to assess the relevant pharmaceutical markets in these cases, and lay out implications for future analyses.
Associated People
Joshua White
Mr. White is a consulting economist who specializes in applying microeconomics and sophisticated econometric modeling to complex litigation and merger-related questions, primarily in matters involving the health care, financial services, and technology industries. His work across a diverse set of engagements has encompassed simulating consumer demand and switching behavior, analyzing whether intellectual property (IP) licensing rates are FRAND-compliant, and estimating ex ante default probabilities for structured investment vehicles. He also has substantial experience developing innovative technological tools for analyzing datasets for merger and competition analyses.
Mr. White has supported both economic and scientific experts addressing competition and intellectual property (IP) issues in matters related to cutting-edge pharmaceutical products. He has supported clients in various jurisdictions and industries in follow-on cartel damages litigation, assessing overcharge, upstream and downstream pass-on, and volume effects.
Mr. White has worked in a number of international jurisdictions and has served as a testifying expert in the UK’s Upper Tribunal (Lands Chamber) on competition matters related to restrictive land covenants. He has also given evidence and submissions to the UK’s Competition and Markets Authority (CMA) on behalf of clients involved in market investigations and mergers. Mr. White has supported several clients before the European Commission on cartel and merger matters and has provided support to European financial and competition regulators in coordinated conduct investigations. Mr. White has published a number of articles and regularly speaks at international competition law and policy conferences.