Valuing Pharmaceutical Drug Innovations

We measure the $\textit{value of pharmaceutical drug innovations}$ by estimating the market values of drugs and their development costs. We rely on market responses to drug development announcements to identify the values and costs. Using data on announcements by firms and their daily stock returns, we estimate the average value of successful drugs at \$1.62 billion. At the discovery stage, on average, drugs are valued at \$64.3 million and cost \$58.5 million. The average costs of the three phases of clinical trials are \$0.6, \$30, and \$41 million, respectively. We also investigate applying these estimates to policies supporting drug development

Road Safety Concept in the Republic of Belarus

The general trend of accident rate reduction, which has been observed in the Republic of Belarus since 2010, reversed in 2017–2018. Remaining within the framework of the country’s traditional engineering activities related to road maintenance is unlikely to significantly improve road safety. A transition to qualitatively new practices and mechanisms for ensuring road safety is required. In order to implement this transition, a second Road Safety Concept has been developed. The Concept is based on the Safe System approach, which offers the implementation of measures in four areas: improving road infrastructure safety, increasing vehicle safety, ensuring safe speeds, and training safe road users. The main threat to the implementation of the Safe System approach in the Republic of Belarus is the fixation of stakeholders on their narrow corporate interests and the unwillingness to take into account nation-wide road safety. The Concept mainly focuses on the “Safe Road Infrastructure” component. A transition to sustainable road safety and the introduction of a Forgiving Road approach are included in the Concept. The introduction of assessment of infrastructure projects impact on traffic safety, traffic safety audit and inspections, road traffic risk assessment, and elimination of accident hotspots are also specified. The introduction of road safety audit is considered an important milestone in the transition to the Forgiving Road approach. The development of Intelligent Transportation Systems is included for the same purpose. Despite the fact that the Concept sets reasonably realistic goals, there are certain concerns about the feasibility of their achievement. This is due to significant institutional problems, such as the lack of a single coordinating body and the complexity of interdepartmental interaction

Demographic approach to the secular clergy in Seventeenth Century Murcia

Artículo de la sección: EstudiosPara numerosos autores del siglo XVII, el excesivo número de clérigos era una de las causas de la crisis de la Monarquía Hispánica. Sin embargo, no se dispone de datos fiables que corroboren estos planteamientos. Existe para la ciudad de Murcia una documentación que utilizándose con mucha cautela puede servir para tener una idea de los efectivos del clero secular, su distribución, el porcentaje que representaba en el conjunto de la población así como su evolución a lo largo de la centuria. A la luz de esta información podremos juzgar si las quejas de los tratadistas estaban justificadas.For many Seventeenth Century authors, the excessive number of clergymen was one of the causes of the crisis of the Hispanic Monarchy. However, it is not possible to get reliable data for correborating these positions. Exists for the city of Murcia a documentation that being used with much caution can serve to have an idea of the number of the secular clergy, its distribution, the percentage that was representing on the whole of the population, as well as its evolution throughout the century. With all this information we shall be able to judge if the writers were right.Departamento de Historia Moderna y de América, Universidad de Granada

СОВРЕМЕННЫЕ ПРЕДСТАВЛЕНИЯ О КЛЕТОЧНО-МОЛЕКУЛЯРНЫХ МЕХАНИЗМАХ АНГИОГЕНЕЗА

The review contains modern scientific literary data, recently conducted studies, which devoted to studying of molecular, cellular and genetic mechanisms in processes of angiogenesis. The authors describe in detail angiogenesis stages, value of the main proangiogenic and antiangiogenic factors, apoptosis factors, which have different orientation in regulation of blood vessels development. Role of a special population of bone marrow-derived stem cells - endothelial progenitor cells (EPC) in the neovascularization is analyzed. Participation of VEGF-dependent, ANG/Tie-dependent and Notch-signaling pathways, posttranscription regulation of a genome with participation of microRNA in angiogenesis processes are discussed and reviewed.В обзоре представлены современные научные литературные данные, рассмотрены проведенные исследования, посвященные изучению молекулярных, клеточных и генетических механизмов в процессах ангиогенеза. Авторы детально анализируют этапы процесса ангиогенеза, роль ведущих проангиогенных и антиангиогенных факторов, факторов апоптоза, обладающих различной направленностью в регуляции развития кровеносных сосудов. Проводится подробный анализ роли особой популяция стволовых клеток костного мозга - предшественников эндотелиальных клеток - в процессах неоваскуляризации. Обсуждаются и анализируются участие VEGF-, Ang/Tie-зависимых и Notch-сигнальных путей, посттранскрипционной регуляции генома с участием микроРНК в процессах ангиогенеза