| Panel A: Auction participation by firm . | |||
|---|---|---|---|
| Firm . | . | Auctions won . | Auctions participated . |
| Cryopharma|${}^*$| | 102 | 259 | |
| Pisa|${}^*$| | 111 | 215 | |
| Eli Lilly|${}^*$| | 75 | 189 | |
| Probiomed|${}^*$| | 91 | 122 | |
| Dimesa|${}^+$| | 43 | 57 | |
| Savi | 10 | 18 | |
| SMS | 10 | 16 | |
| Maypo | 7 | 15 | |
| Audipharma | 3 | 6 | |
| Codifarma | 1 | 9 | |
| Panel B: Bid levels, total quantity, and auction frequency | |||
| Year | Average lowest bid | Est. total quantity | Number of auctions |
| 2003 | 155.15 | 1,790,311 | 53 |
| 2004 | 155.16 | 1,334,543 | 71 |
| 2005 | 155.26 | 1,663,158 | 132 |
| 2006 | 60.22 | 2,674,641 | 76 |
| 2007 | 34.35 | 4,237,606 | 9 |
| Panel A: Auction participation by firm . | |||
|---|---|---|---|
| Firm . | . | Auctions won . | Auctions participated . |
| Cryopharma|${}^*$| | 102 | 259 | |
| Pisa|${}^*$| | 111 | 215 | |
| Eli Lilly|${}^*$| | 75 | 189 | |
| Probiomed|${}^*$| | 91 | 122 | |
| Dimesa|${}^+$| | 43 | 57 | |
| Savi | 10 | 18 | |
| SMS | 10 | 16 | |
| Maypo | 7 | 15 | |
| Audipharma | 3 | 6 | |
| Codifarma | 1 | 9 | |
| Panel B: Bid levels, total quantity, and auction frequency | |||
| Year | Average lowest bid | Est. total quantity | Number of auctions |
| 2003 | 155.15 | 1,790,311 | 53 |
| 2004 | 155.16 | 1,334,543 | 71 |
| 2005 | 155.26 | 1,663,158 | 132 |
| 2006 | 60.22 | 2,674,641 | 76 |
| 2007 | 34.35 | 4,237,606 | 9 |
Notes: |${}^*$| indicates cartel member, |${}^+$| indicates 2006 entrant. This table reports summary statistics on insulin auctions occurring from May 2003 to 2007. Panel A shows auction participation by firm. Panel B shows average minimum bids, estimated quantities (where each unit is a 10 ml vial), and auction frequency by year.
| Panel A: Auction participation by firm . | |||
|---|---|---|---|
| Firm . | . | Auctions won . | Auctions participated . |
| Cryopharma|${}^*$| | 102 | 259 | |
| Pisa|${}^*$| | 111 | 215 | |
| Eli Lilly|${}^*$| | 75 | 189 | |
| Probiomed|${}^*$| | 91 | 122 | |
| Dimesa|${}^+$| | 43 | 57 | |
| Savi | 10 | 18 | |
| SMS | 10 | 16 | |
| Maypo | 7 | 15 | |
| Audipharma | 3 | 6 | |
| Codifarma | 1 | 9 | |
| Panel B: Bid levels, total quantity, and auction frequency | |||
| Year | Average lowest bid | Est. total quantity | Number of auctions |
| 2003 | 155.15 | 1,790,311 | 53 |
| 2004 | 155.16 | 1,334,543 | 71 |
| 2005 | 155.26 | 1,663,158 | 132 |
| 2006 | 60.22 | 2,674,641 | 76 |
| 2007 | 34.35 | 4,237,606 | 9 |
| Panel A: Auction participation by firm . | |||
|---|---|---|---|
| Firm . | . | Auctions won . | Auctions participated . |
| Cryopharma|${}^*$| | 102 | 259 | |
| Pisa|${}^*$| | 111 | 215 | |
| Eli Lilly|${}^*$| | 75 | 189 | |
| Probiomed|${}^*$| | 91 | 122 | |
| Dimesa|${}^+$| | 43 | 57 | |
| Savi | 10 | 18 | |
| SMS | 10 | 16 | |
| Maypo | 7 | 15 | |
| Audipharma | 3 | 6 | |
| Codifarma | 1 | 9 | |
| Panel B: Bid levels, total quantity, and auction frequency | |||
| Year | Average lowest bid | Est. total quantity | Number of auctions |
| 2003 | 155.15 | 1,790,311 | 53 |
| 2004 | 155.16 | 1,334,543 | 71 |
| 2005 | 155.26 | 1,663,158 | 132 |
| 2006 | 60.22 | 2,674,641 | 76 |
| 2007 | 34.35 | 4,237,606 | 9 |
Notes: |${}^*$| indicates cartel member, |${}^+$| indicates 2006 entrant. This table reports summary statistics on insulin auctions occurring from May 2003 to 2007. Panel A shows auction participation by firm. Panel B shows average minimum bids, estimated quantities (where each unit is a 10 ml vial), and auction frequency by year.
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