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Common ownership - where several firms are (partially) owned by the same investors
- and its impact on product market competition has recently drawn much
attention. This paper focuses on its implications for market entry. We consider
the entry decisions of generic pharmaceutical firms into drug markets that are
opened up by the end of regulatory protection and which were previously dominated
by a single firm selling the brand name drug. We find robust evidence that
an increase in common ownership leads to a significant reduction in generic entry.
