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External reference pricing ( ERP ), also known as international reference pricing, is the practice of regulating the price of a medication in one country, by comparing with the price in a "basket" of other reference countries. It contrasts with internal reference pricing, where the price of one drug is compared to the domestic price of ...
During this time, the Bureau's Division of Price and Index Number Research began research on the feasibility of producing import and export price indexes. The IPP was a result of this research and was established as an ongoing program in 1971. The IPP produced its first annual international price indexes in 1973.
Drug price data from LMICs can be lacking, and in such situations, international medicine prices can be obtained from the International Medical Products Price Guide. Some countries use ERP for all drug pricing, and some just for new drugs that are on-patent.: 300–303 In addition to prices, most products in the guide have a defined daily dose ...
Dumping (pricing policy) Dumping, in economics, is a form of predatory pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect. The objective of dumping is to increase market share in a foreign market by driving out ...
Transfer pricing refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control. Because of the potential for cross-border controlled transactions to distort taxable income, tax authorities in many countries can adjust intragroup transfer prices that differ from what would have been ...
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and ...
Benchmark price. Benchmark price (BP) is the price per unit of quantity in a specific segment of the international marketplace, set by the country or producers' organization that consistently exports the largest quantity or volume in a marketplace such as the London Metal Exchange. [1] [2] This price is set periodically, usually monthly and ...
The International Comparison Program holds surveys collecting price and expenditure data for the entire range of final goods and services at intervals of some few years (the last two were separated by six years). The surveys cover GDPs of countries including their consumer goods, services, government services and capital goods.