Gray market


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Gray market

Describes the sale of securities that have not officially been issued to firms other than the underwriting syndicate. This type of market serves as a good indicator of demand for a new issue in the public market.

Gray Market

Trade using unofficial and unregulated, but still legal, means. In securities, a gray market typically refers to trade in bonds or stocks not yet issued. These sales are contingent upon the issuance actually taking place, and are sometimes considered benchmarks for how successful the issuance will be. Another example of a gray market is the pharmaceuticals industry, in which buyers in different countries sometimes pay very different amounts. Buyers in the more expensive country may travel to the other country to buy their medicines, creating a gray market.
References in periodicals archive ?
This then would make it possible for consumers to just shop at Apple instead of turning to the gray market for their own handsets.
Concern about these facets of the prescription drug gray market has been raised by the drug-making industry's own trade association, the Pharmaceutical Research and Manufacturers of America (PhRMA).
In this paper, the problem of a gray market is addressed in the context of a trademark owner's perspective in situations where the firm negatively reacts to the trade and limits the distribution of its goods through unauthorized channels.
Unlike counterfeit goods, gray market goods are genuine branded products sold without a trademark owner's consent.
The note then focuses on the domestic gray market by considering our country's current drug shortage and the ways in which gray good pharmaceuticals' presence heightens its implications for health and safety.
We've seen various instances where the Apple iPhone or Samsung Galaxy S4 is available cheaper through official channels than through gray market operators with the added advantage those official stocks carry a full manufacturer's warranty.
Most importantly, when CMs shop the gray market to manage their supply chains, the companies must have transparency to the OEM.
In the IT sector alone, gray market goods accounted for $58 billion in U.
The Alliance for Gray Market and Counterfeit Abatement, an initiative composed of technology companies, reports that "over $40 billion in legitimate IT products move through the gray market channel each year, resulting in $5 billion in lost profits annually to IT manufacturers.
Cat is requesting relief in the form of a cease and desist order against the 21 respondents prohibiting them from advertising, stocking, renting, or selling the gray market excavators.
Estimates for the size of the gray market there range from two to ten percent of the total market for prescription medicines and are expected to grow in the futur e [Chaudhry and Walsh, 1995].
According to Geisler, gray market beer is often poured for customers from taps labeled as something else.