Does the development of new medicinal products in the European Union address global and regional health concerns?

<p>Abstract</p> <p>Background</p> <p>Since 1995, approval for many new medicinal products has been obtained through a centralized procedure in the European Union. In recent years, the use of summary measures of population health has become widespread. We investigated whether efforts to develop innovative medicines are focusing on the most relevant conditions from a global public health perspective.</p> <p>Methods</p> <p>We reviewed the information on new medicinal products approved by centralized procedure from 1995 to 2009, information that is available to the public in the European Commission Register of medicinal products and the European Public Assessment Reports from the European Medicines Agency. Morbidity and mortality data were included for each disease group, according to the Global Burden of Disease project. We evaluated the association between authorized medicinal products and burden of disease measures based on disability-adjusted life years (DALYs) in the European Union and worldwide.</p> <p>Results</p> <p>We considered 520 marketing authorizations for medicinal products and 338 active ingredients. New authorizations were seen to increase over the period analyzed. There was a positive, high correlation between DALYs and new medicinal product development (ρ = 0.619, p = 0.005) in the European Union, and a moderate correlation for middle-low-income countries (ρ = 0.497, p = 0.030) and worldwide (ρ = 0.490, p = 0.033). The most neglected conditions at the European level (based on their attributable health losses) were neuropsychiatric diseases, cardiovascular diseases, respiratory diseases, sense organ conditions, and digestive diseases, while globally, they were perinatal conditions, respiratory infections, sense organ conditions, respiratory diseases, and digestive diseases.</p> <p>Conclusions</p> <p>We find that the development of new medicinal products is higher for some diseases than others. Pharmaceutical industry leaders and policymakers are invited to consider the implications of this imbalance by establishing work plans that allow for the setting of future priorities from a public health perspective.</p

Does accounting treatment of share-based payments impact performance measures for banks?

This paper identifies, evaluates and analyses the resulting impact of mandatory expensing of share‐based compensation (SBC) under IFRS2/FASB123R on a set of widely used performance measures in the EU and US banking industry. The paper shows that the accounting treatment of SBC schemes, following the mandatory adoption of IFRS2/FAS123R, has a statistically significant negative impact on the selected performance measures over the period 2004–11. The impact also seems to be material, yet modest, for US banks and only for large and high‐growth EU banks, indicating that earlier public concerns and criticisms of the implementation of IFRS2/FAS123R are largely unsubstantiated. The findings also show that banks continue to use SBC, but there is a reduction, albeit insignificant, in the recognised SBC expense over the period 2009–11. That is, earlier public concerns that firms would curtail employing SBC in their employees’ compensation schemes to avoid the effect of SBC expense recognition on their financial ratios came to light after the first option life‐cycle in the post‐adoption period was over. The findings also show a marked movement towards using cash‐settled‐based payments, possibly due to their manipulative accounting treatment, a potentially interesting issue for related accounting research and accounting standard setters

Knowledge resources in the university context: an overview of the literature

Purpose – The aim of this work is to identify and analyze the main areas on which researchers have focused in relation to intellectual capital (IC) and its management in the university context. This review will also analyze how these researchers carried out their work to understand future research directions. Design/methodology/approach – The analysis was conducted through a structured literature review (SLR) of 866 research contributions (articles, book chapters and books). An analysis of the content was performed to identify the main topics discussed and to ascertain how these studies were carried out. Findings – This paper highlights how the management of knowledge resources (as IC) has been discussed in the literature, focusing specifically on how universities report the information, which is fundamental for allowing stakeholders to understand the value created by these kinds of organizations. Research limitations/implications – The manual analysis of the results of the SLR can be considered a limitation of this work. Another limitation of the work is represented by the use of only one database. Originality/value – This SLR makes several useful contributions for both practitioners and scholars. First, it suggests strengthening the relationship with the external stakeholders to assure the survival of universities. Second, it enables others to replicate scientific research, thanks to its clear and transparent process. It also allows scholars to identify which issues their work should address, as well as suggesting possible future research area