Sales Growth of New Pharmaceuticals Across the Globe: The Role of Regulatory Regimes

Prior marketing literature has overlooked the role of regulatory regimes in explaining international sales growth of new products. This paper addresses this gap in the context of new pharmaceuticals (15 new molecules in 34 countries) and sheds light on the effect regulatory regimes have on new drug sales across the globe. Based on a time-varying coefficient model, we find that differences in regulation substantially contribute to cross-country variation in sales. One of the regulatory constraints investigated, i.e. manufacturer price controls, has a positive effect on drug sales. The other forms of regulation such as restrictions of physician prescription budgets and the prohibition of direct-to-consumer advertising tend to hurt sales. The effect of manufacturer price controls is similar for newly launched and mature drugs. In contrast, regulations on physician prescription budget and direct-to-consumer advertising have a differential effect for newly launched and mature drugs. While the former hurts mature drugs more, the latter has a larger effect on newly launched drugs. In addition to these regulatory effects, we find that national culture, economic wealth, introduction timing, lagged sales and competition, also affect drug sales. Our findings may be used as input by managers for international launch and sales decisions. They may also be used by public policy administrators to compare drug sales in their country to other countries and to assess the role of regulatory regimes therein.economics;regulation;culture;drug;international new product growth;penalized splines;pharmaceutical;timevarying effects

Relation between Kitaev magnetism and structure in α\alpha-RuCl3_3

Raman scattering has been employed to investigate lattice and magnetic excitations of the honeycomb Kitaev material $\alpha$-RuCl$_3$ and its Heisenberg counterpart CrCl$_3$. Our phonon Raman spectra give evidence for a first-order structural transition from a monoclinic to a rhombohedral structure for both compounds. Significantly, only $\alpha$-RuCl$_3$ features a large thermal hysteresis, consistent with the formation of a wide phase of coexistence. In the related temperature interval of $70-170$ K, we observe a hysteretic behavior of magnetic excitations as well. The stronger magnetic response in the rhombohedral compared to the monoclinic phase evidences a coupling between the crystallographic structure and low-energy magnetic response. Our results demonstrate that the Kitaev magnetism concomitant with fractionalized excitations is susceptible to small variations of bonding geometry.Comment: 9 pages, 8 figures, To appear in PR

Anomalous frequency and intensity scaling of collective and local modes in a coupled spin tetrahedron system

We report on the magnetic excitation spectrum of the coupled spin tetrahedral system Cu$_{2}$Te$_{2}$O$_{5}$Cl$_{2}$ using Raman scattering on single crystals. The transition to an ordered state at T$_{N}^{Cl}$=18.2 K evidenced from thermodynamic data leads to the evolution of distinct low-energy magnetic excitations superimposed by a broad maximum. These modes are ascribed to magnons with different degree of localization and a two-magnon continuum. Two of the modes develop a substantial energy shift with decreasing temperature similar to the order parameter of other Neel ordered systems. The other two modes show only a negligible temperature dependence and dissolve above the ordering temperature in a continuum of excitations at finite energies. These observations point to a delicate interplay of magnetic inter- and intra-tetrahedra degrees of freedom and an importance of singlet fluctuations in describing a spin dynamics.Comment: 7pages, 6figures, 1tabl

Positive contraction mappings for classical and quantum Schrodinger systems

The classical Schrodinger bridge seeks the most likely probability law for a diffusion process, in path space, that matches marginals at two end points in time; the likelihood is quantified by the relative entropy between the sought law and a prior, and the law dictates a controlled path that abides by the specified marginals. Schrodinger proved that the optimal steering of the density between the two end points is effected by a multiplicative functional transformation of the prior; this transformation represents an automorphism on the space of probability measures and has since been studied by Fortet, Beurling and others. A similar question can be raised for processes evolving in a discrete time and space as well as for processes defined over non-commutative probability spaces. The present paper builds on earlier work by Pavon and Ticozzi and begins with the problem of steering a Markov chain between given marginals. Our approach is based on the Hilbert metric and leads to an alternative proof which, however, is constructive. More specifically, we show that the solution to the Schrodinger bridge is provided by the fixed point of a contractive map. We approach in a similar manner the steering of a quantum system across a quantum channel. We are able to establish existence of quantum transitions that are multiplicative functional transformations of a given Kraus map, but only for the case of uniform marginals. As in the Markov chain case, and for uniform density matrices, the solution of the quantum bridge can be constructed from the fixed point of a certain contractive map. For arbitrary marginal densities, extensive numerical simulations indicate that iteration of a similar map leads to fixed points from which we can construct a quantum bridge. For this general case, however, a proof of convergence remains elusive.Comment: 27 page

Sales Growth of New Pharmaceuticals Across the Globe: The Role of Regulatory Regimes

Prior marketing literature has overlooked the role of regulatory regimes in explaining international sales growth of new products. This paper addresses this gap in the context of new pharmaceuticals (15 new molecules in 34 countries) and sheds light on the effect regulatory regimes have on new drug sales across the globe. Based on a time-varying coefficient model, we find that differences in regulation substantially contribute to cross-country variation in sales. One of the regulatory constraints investigated, i.e. manufacturer price controls, has a positive effect on drug sales. The other forms of regulation such as restrictions of physician prescription budgets and the prohibition of direct-to-consumer advertising tend to hurt sales. The effect of manufacturer price controls is similar for newly launched and mature drugs. In contrast, regulations on physician prescription budget and direct-to-consumer advertising have a differential effect for newly launched and mature drugs. While the former hurts mature drugs more, the latter has a larger effect on newly launched drugs. In addition to these regulatory effects,

Longitudinal magnon in the tetrahedral spin system Cu2Te2O5Br2 near quantum criticality

We present a comprehensive study of the coupled tetrahedra-compound Cu2Te2O5Br2 by theory and experiments in external magnetic fields. We report the observation of a longitudinal magnon in Raman scattering in the ordered state close to quantum criticality. We show that the excited tetrahedral-singlet sets the energy scale for the magnetic ordering temperature T_N. This energy is determined experimentally. The ordering temperature T_N has an inverse-log dependence on the coupling parameters near quantum criticality

The Effect of Ordinary Portland Cement on Nuclear Waste Glass Dissolution

AbstractTo evaluate the durability of the glass matrix and to identify the key mechanisms responsible for glass alteration in the cementitious environment imposed by the Supercontainer design, glass leach tests were conducted at 30°C under Ar atmosphere in suspensions of Ordinary Portland Cement and synthetic young cement water with the high pH of 13.5. The cement appears to trigger the glass dissolution by consumption of glass matrix components leading to a fast glass dissolution at a constant rate with the formation of a porous gel layer on the glass. The key mechanism driving the long-term glass dissolution is secondary phase formation with Si and Al from the glass matrix. The two main reactions are the reaction of Si released by the glass with portlandite, leading to the formation of Calcium Silicate Hydrate (C-S-H) phases, and the further conversion of C-S-H phases with Al from the glass to form Calcium Aluminum Silicate Hydroxide (C-A-S-H) phases. After consumption of the portlandite, the glass alteration rate is expected to decrease