prithivira92

prithivira92

Lv3

Parul University

0 Followers
1 Following
2 Helped

ANSWERS

Published41

Subjects

Management3Geography4Communications1Algebra1Geometry1Computer Science2Biology4Physics7Economics15Chemistry3
Answer: Velocity
Answer:1. It is challenging to determine the exact current conflict with the b...
Answer:To determine the horizontal and vertical components of the force exerte...
Answer:(a) To write an expression for the tension T in the horizontal cable AB...
Answer:(a) To write an expression for the tension T in the horizontal cable AB...
Answer:(c) To write an expression for the x-component Pr of the force exerted ...
Answer: Step-by-step explanation:(a) To find an expression for the distance d ...
Answer: Step-by-step explanation:To my knowledge, there is no specific animal ...
Answer: The false statement about the properties of water is: b) When ionic co...
Answer:Indeed, in today's interconnected world, cultural exchange is a common ...
Answer:Based on the given options, the correct answer is:e) All of the AboveTh...
Answer:The volcanism at Yellowstone National Park is primarily attributed to a...
Answer:The slowly increasing distance between South America and Africa is prim...
Answer:To meet the given requirements for the SD-WAN architecture design, the ...
Answer:To mitigate the risk of data loss in the given scenario, the security t...
Answer: for the given expression:∫[sqrt(x^3 + 1)] dx from √y to 1 dy, where y ...
Answer:1. G. Fiscal Policy2. B. Net exports are equal to zero.3. I. Relationsh...
Answer:1. G. Fiscal Policy2. B. Balanced trade3. I. Aggregate Expenditure Mode...

Pfizer was established in 1849 in Brooklyn, New York by cousins Charles Pfizer and Charles Erhart with a loan of $2,500 from Pfizer’s father.2 Today, 167 years later, Pfizer Inc. has international revenues of $49 billion, which makes it the second-largest pharmaceutical manufacturer in the world.3 Despite Pfizer’s success, the company has faced many challenges over the last few decades. The pharmaceutical industry is heavily influenced by legal, political, and technological forces, and all indications are that the industry will continue to experience dramatic changes. Since the passing of the Food and Drug Act in 1906, the Food and Drug Administration (FDA) has had regulatory authority over drugs in the United States. The scope of its initial authority was limited and in 1938 President Roosevelt signed the Food, Drug and Cosmetic Act (FD&C) into law, which significantly expanded federal oversight of drug manufacturing and marketing.4 In addition to granting the FDA authority to mandate pre-market review of drugs, the FD&C also allowed the FDA to regulate drug labeling and advertising. Then, in 1992, Congress passed the Prescription Drug User Fee Act, which enables the FDA to collect fees from drug manufacturers to aid in funding the pre-market review process for new drug approvals.5 The effect of these reforms was significant increases in the time and cost for drug manufacturers to bring new drugs to market. In 2006, a study estimated the cost of bringing a new drug to market was between $802 million and $2 billion, depending on the type of drug being developed and the number of drugs being developed simultaneously.6 The study found that approximately 60% of the total cost of drugs was related to pre-market clinical trials required by the FDA. As inflation, increased regulation, and other factors have affected the pharmaceutical industry, a 2012 study indicated that the cost per drug for the largest manufacturers has increased to over $5.5 billion.7 For Pfizer, the total Research & Development (R&D) cost for each drug that received FDA approval was $7.7 billion between 1997 and 2011.8 The steep rise in development costs has forced many large drug manufacturers – including Pfizer – to cut R&D budgets in an attempt to control rising costs.9 The reduction in R&D funding in reaction to expanding costs has led to stifled innovation and revealed a crisis looming ahead for many large drug manufacturers in the industry. Not only have many drug companies’ blockbuster drugs gone off patent in recent years, but the reductions in R&D spending have resulted in drug pipelines that have failed to produce anything of significant value.10 The number of new drugs approved by the FDA per billion dollars of R&D expenditures has halved every nine years since 1950.11 The rapid increase in the cost of drug development and the reduction in the approval frequency of blockbuster-level drugs has led many industry experts to largely consider the current, fully integrated business model of large pharmaceutical companies to be unsustainable.12 BUSINESS AND STRATEGIES Like most large pharmaceutical manufacturers, Pfizer pursues a “blockbuster” business model that is heavily reliant on its R&D pipeline to consistently develop and launch high volume drugs – drugs with expected annual revenues of $1 billion or greater.13 In 2012, Pfizer began restructuring its operations into a new commercial operating model. Pfizer divested its infant nutrition business for $11.9 billion and spun-off its animal health unit, Zoetis. Additionally, Pfizer restructured its operations into two primary business segments: Innovative Products and Established Products. Pfizer’s Innovative Products business is further divided into the Global Innovative Pharma (GIP) and Global Vaccines, Oncology, and Consumer Healthcare (VOC) businesses.14 Ian Read commented regarding the restructuring: “This represents the next steps in Pfizer’s journey to further revitalize our innovative core. Our new commercial model will provide each business with an enhanced ability to respond to market dynamics, greater visibility and focus, and distinctive capabilities.”15 Exhibit 1 contains some useful financial comparisons between Pfizer’s Innovative Products and its Established Products. Innovative Products Business Global Innovative Pharma (GIP) Business. This business focuses on developing, registering and commercializing novel, value-creating medicines that improve patients' lives. Therapeutic areas include inflammation, cardiovascular/metabolic, neuroscience and pain, rare diseases and women's/men's health, and include leading brands, such as Xeljanz®, Eliquis® and Lyrica®. GIP has a robust pipeline of medicines in inflammation, cardiovascular/metabolic disease, pain, and rare diseases. 34% of Pfizer’s revenue growth over the past three years has come from increasing prices on existing drugs.19 Over this period, Pfizer has increased the price of Viagra by 57%, of Lyrica by 51%, and of Premarin by 41%. A 2013 study by the AARP found that the price of Lipitor rose by 9.3% in the year preceding patent expiration, and by 17.5% in 2011, the year of expiration.20 Pfizer is not alone in these practices. AbbVie and Bristol-Myers Squibb have both been reported as generating a very significant amount of their revenue growth from price increases. Drug pricing scandals and increased media and societal attention on drug pricing in general makes Pfizer’s reliance on pricing strategy to drive top-line revenue growth unsustainable. This is evident in the drug industry’s flat net pricing in 2015. Pfizer has become one of the largest pharmaceutical companies in the world primarily as a result of aggressive mergers and acquisitions (M&A). Pfizer’s acquisitions have been focused on two main strategies: expanding its capabilities and acquiring brands with strong revenues. Many of Pfizer’s acquisitions have provided new capabilities for the organization, such as biologics with the acquisition of Warner-Lambert in 2000 and biosimilar drugs with the acquisition of Hospira in 2015. Additionally, Pfizer acquired the rights to the best-selling drug Lipitor in its 2000 acquisition of Warner-Lambert and the rights to Celebrex and Bextra in its 2003 acquisition of Pharmacia Corporation. In 2016 Pfizer entered into an agreement to merge with Allergan. The $160 billion deal would have created the largest pharmaceutical company in the world and would have allowed Pfizer to relocate its headquarters to Allergan's home country of Ireland in order to take advantage of their lower corporate tax rate. 29 However, on April 4, 2016, the U.S. Department of Treasury took measures to limit corporate inversions. 30 Previously, a company realized tax benefits for inversions only when the foreign company would contribute 20% or greater of the combined company’s assets. The new ruling disregards the last three years of U.S. acquisitions by the foreign entity when determining the foreign company’s relative size under the combined entity. The new rule was the predominant factor that caused Pfizer to pay $150 million to walk away the Allergan deal.31 Pfizer would not have realized the full tax benefit of the inversion because Allergan’s relative size would have fallen below the 20% threshold under the new tax rules. Pfizer has a long history of investing in R&D for the development of blockbuster drugs. However, many industry experts believe the age of blockbuster drugs has come to an end and that new blockbusters will be rare. 32 They argue that the opportunities for revolutionary drugs have been mostly exploited, with very few areas of medicine in which breakthrough drugs can have a huge impact. In light of industry trends, Pfizer has shifted its strategy of maintaining an industry-leading drug pipeline from in-house development to being more reliant on strategic partnerships and mergers and acquisitions. To support its interest in strategic partnerships, in 2004 Pfizer founded Pfizer Venture Investments (PVI). Its goal is to identify and invest in strategic areas and businesses at the leading edge of healthcare science and technologies. PVI started with a $50 million annual budget and was Pfizer’s way of staying ahead of industry trends and investing in companies which are developing compounds and technologies that will enhance Pfizer’s drug pipeline and help drive the future of the pharmaceutical industry.33 In January 2016, Pfizer announced that it would be expanding its investment strategy to include investments in early-stage scientific innovations in immuno-oncology, gene therapy, and other cutting-edge fields. Pfizer invested nearly $46 million in four companies in these fields: BioAtla, NextCure Inc., Cortexyme Inc., and 4D Molecular Therapists, Inc. Pfizer’s strategic partnership with these and other firms provides a world-class resource in start-up organizations to accelerate the pace of scientific innovation and to help develop their pipeline of drugs. Ian C. Read was elected CEO of Pfizer in December of 2010 and Chairman of the Board in 2011, taking over from Jeffrey Kindler. Read has spent his entire career at Pfizer, starting as an operational auditor. Read’s B.S. in chemical engineering and accounting experience set the groundwork for a successful career in pharmaceuticals. Some of his previous roles included CFO of Pfizer Mexico, Country Manager of Pfizer Brazil, President of Pfizer's International Pharmaceuticals Group, Executive Vice President of Europe, and Corporate Vice President. Read also serves on the boards of Pharmaceutical Research Manufacturers of America (PhRMA), which represents the leading innovative biopharmaceutical research companies. Over the past five years, Pfizer’s revenues have been steadily decreasing, reducing net income to a five-year low of $6.96 billion. A decrease in revenue from continuing operations is the primary cause of the decrease in revenues. The spin-off of Zoetis had a compounding effect on both the decrease in revenues and cost of sales post 2013. Current assets were steady over the past three years; however, there was a recent dip in short-term investments. Goodwill is increasing, reflecting the premiums paid for acquisitions in recent years. Pfizer’s short-term borrowing has increased almost twofold in the past five years. Overall, Pfizer’s balance sheet has been fairly steady the past two years, but Pfizer’s total liabilities are slightly higher and its total equity slightly lower in 2015 compared to 2014. Both of these years are lower compared to pre-Zoetis spin-off levels. The pharmaceutical industry invests heavily in research and clinical trials and relies on obtaining FDA approval and patent protection for its products to ensure prolonged profits while the next “miracle” drug is under research. There are high payoffs when a drug is successfully brought to market; but there also great costs, in the form of massive time and monetary investments for failures, if it is not. Among Pfizer’s largest competitors are Merck, Novartis, Bristol-Myers and Johnson & Johnson. Ian Read has been at Pfizer’s helm for the past six years. With the patent expiration for Lipitor behind him, the best-selling drug in history is no longer contributing as much to Pfizer’s bottom line. Is the firm still capable of delivering a sustainable pipeline of profitable drugs, or are major changes to strategy and operations necessary? And is Pfizer’s opportunity for significant inversions over with the failed takeover attempts of both AstraZeneca and Allergan? To add to these issues, drug pricing scandals and healthcare reform have created an environment of active political reform. How can Pfizer navigate the upcoming challenges that growing societal discontent with “big pharma” and the rising cost of healthcare present? Do these threats also provide opportunities? How can Pfizer best be positioned for growth and profitability in this challenging business environment? -------------------------------------------------------------------------------------------------------------------------

1. There is a lot of price pressure on pharmaceuticals companies right now, and it is likely to continue. What are some of the strategies firms (choose TWO firms) in other industries might use to reduce their costs (allowing them to reduce prices)? For each of these strategies, determine whether they are likely to be effective for a pharmaceutical company like Pfizer.

2. What are Pfizer’s options for dealing with increased government oversight and regulation? What about consumer outrage?

3. A lot of Pfizer’s growth has come from acquisitions. Would you recommend continuing this sort of growth? Why or why not?

Answer:1. Two strategies that firms in other industries might use to reduce co...
Answer: Step-by-step explanation:D. GDP equals the sum of consumption, investm...

Looking for some help checking my answers. Appreciate you economic experts taking a look at my answeres that I bolded. Please let me know which ones are wrong. Thanks!!!

1. In a private closed economy, the two components of aggregate expenditures are:

A. Consumption and government spending

B. Consumption and net exports

C. Consumption, investment, and net exports

D. Consumption and investment

2. The investment schedule shows the:

A. Inverse relationship between the expected rate of return and the quantity of investment demanded

B. Positive relationship between the expected rate of return and the quantity of investment demanded

C. Amounts business firms collectively intend to invest at each possible level of GDP

D. Rate of interest that business firms must pay when they make investments in capital goods

4. Net exports are negative when:

A. Net exports exceed imports

B. Depreciation exceeds exports

C. Exports exceed imports

D. Imports exceed exports

5. Other things being equal, a decrease in an economy's exports will:

A. Increase domestic aggregate expenditures and the equilibrium level of GDP

B. Decrease domestic aggregate expenditures and the equilibrium level of GDP

C. Have no effect on domestic GDP because imports will offset the change in exports

D. Increase the amount of imports consumed by the private sector

6. Which of the following statements is correct?

A. An increase in exports will tend to increase, and an increase in imports will tend to decrease, the equilibrium GDP

B. An increase in exports and an increase in imports will both tend to increase the equilibrium GDP

C. An increase in exports and an increase in imports will both tend to decrease the equilibrium GDP

D. An increase in exports will tend to decrease, and an increase in imports will tend to increase, the equilibrium GDP

7. Which event would most likely decrease an economy's exports?

A. A decline in the tariff on products imported from abroad

B. An increase the prosperity of trading partners for this economy

C. An appreciation of the nation's currency relative to foreign currencies

D. A depreciation of the nation's currency relative to foreign currencies

8. In the aggregate expenditures model of the economy, a downward shift in aggregate expenditures can be caused by a:

A. Decrease in government spending or an increase in taxes

B. Decrease in taxes or an increase in government spending

C. Decrease in interest rates or a decrease in taxes

D. Decrease in saving or an increase in government spending

9. In a recessionary expenditure gap, the equilibrium level of real GDP is:

A. Less than planned aggregate expenditures

B. Greater than planned aggregate expenditures

C. Greater than full-employment GDP

D. Less than full-employment GDP

10. An economy characterized by high unemployment is likely to be:

A. Experiencing a high rate of economic growth

B. Experiencing hyperinflation

C. Having a recessionary expenditure gap

D. Having an inflationary expenditure gap

11. The aggregate demand curve shows the:

A. Inverse relationship between the price level and the quantity of real GDP purchased

B. Direct relationship between the price level and the quantity of real GDP produced

C. Inverse relationship between interest rates and the quantity of real GDP produced

D. Direct relationship between real-balances and the quantity of real GDP purchased

12. The aggregate demand curve or schedule shows the relationship between the total demand for output and the:

A. Income level

B. Interest rate

C. Price level

D. Real GDP

15. A decrease in expected returns on investment will most likely shift the AD curve to the:

A. Right because C will increase

B. Left because C will decrease

C. Right because Ig will increase

D. Left because Ig will decrease

16. The expenditure multiplier concept of the aggregate-expenditures model:

A. Is not at all relevant in the AD-AS model

B. Magnifies the shifts of the aggregate demand curve

C. Explains movement up or down the aggregate demand curve

D. Reverses the shift of the aggregate demand curve

17. If the dollar appreciates in value relative to foreign currencies:

A. Aggregate demand decreases because C decreases

B. Aggregate demand increases because C increases

C. Aggregate demand decreases because net exports decrease

D. Aggregate demand increases because net exports increase

19. A fall in labor costs will cause aggregate:

A. Supply to increase

B. Demand to increase

C. Supply to decrease

D. Demand to decrease

21. When the Federal government uses taxation and spending actions to stimulate the economy it is conducting:

A. Fiscal policy

B. Incomes policy

C. Monetary policy

D. Employment policy

22. Fiscal policy is enacted through changes in:

A. Interest rates and the price level

B. The supply of money and foreign exchange

C. Unemployment and inflation

D. Taxation and government spending

23. The intent of contractionary fiscal policy is to:

A. Increase aggregate demand

B. Decrease aggregate demand

C. Increase aggregate supply

D. Decrease aggregate supply

24. The goal of expansionary fiscal policy is to increase:

A. The price level

B. Aggregate supply

C. Real GDP

D. Unemployment

25. Contractionary fiscal policy would tend to make a budget deficit become:

A. Bigger

B. Smaller

C. A trade deficit

D. A trade surplus

26. You are given the following information about aggregate demand at the existing price level for an economy: (1) consumption = $500 billion; (2) investment = $50 billion; (3) government purchases = $100 billion; and (4) net export = $20 billion. If the full-employment level of GDP for this economy is $620 billion, then what combination of actions would be most consistent with closing the GDP-gap here?

A. Increase government spending and taxes

B. Decrease government spending and taxes

C. Decrease government spending and increase taxes

D. Increase government spending and decrease taxes

27. The more progressive the tax system, the:

A. Less is the built-in stability for the economy

B. Greater is the built-in stability for the economy

C. Less is the effect of crowding-out on the economy

D. Greater is the severity of business fluctuations on the economy

28. Assume that the economy is in a recession and there is a budget deficit. A strict balanced-budget rule that would require the Federal government to balance its budget during a recession would be:

A. Expansionary and worsen the effects of the recession

B. Contractionary and worsen the effects of the recession

C. Contractionary and counter the effects of the recession

D. Expansionary and counter the effects of the recession

29. One timing problem in using fiscal policy to counter a recession is the "recognition lag" that occurs between the:

A. Start of the recession and the time it takes to recognize that the recession has started

B. Start of a predicted recession and the actual start of the recession

C. Time fiscal action is taken and the time that the action has its effect on the economy

D. Time the need for the fiscal action is recognized and the time that the action is taken

30. The crowding-out effect suggests that:

A. Increases in consumption are always at the expense of saving

B. Increases in government spending will close a recessionary expenditure gap

C. Increases in government spending may reduce private investment

D. High taxes reduce both consumption and saving

31. The functions of money are to serve as a:

A. Resource allocator, method for accounting, and means of income distribution

B. Unit of account, store of value, and medium of exchange

C. Determinant of consumption, investment, and government spending

D. Factor of production, exchange, and aggregate supply

32. What function is money serving when you use it when you go shopping?

A. A store of value

B. A unit of account

C. A medium of deferred payment

D. A medium of exchange

33. An asset's liquidity refers to its ability to be:

A. Bought and stored

B. Increasing in value over time

C. Used and enjoyed

D. A means of payment

34. Checkable deposits are:

A. Debts of commercial banks and savings institutions

B. Debts of the Federal government and government agencies

C. Assets of the Federal government and government agencies

D. Assets of commercial banks and savings institutions

35. Checkable deposits are included in:

A. M1 but not in M2

B. M2 but not in M1

C. both M1 and M2

D. neither M1 nor M2

36. The use of a credit card is most similar to:

A. Paying with a check

B. An ACH (automatic clearinghouse) transaction

C. Purchasing a certificate of deposit

D. Obtaining a short-term loan

37. Which of the following "backs" the value of money in the United States?

A. The gold stored in the Federal Reserve Bank of New York

B. The acceptability of it as a medium of exchange

C. The willingness of foreign government to hold U.S. dollars

D. The size of the budget surplus in the U.S. government

38. The Federal backing for money in the United States comes from:

A. Providing sufficient quantities of precious metals such as gold and silver to cover the amount of paper money in circulation

B. Pledging physical assets, such as land, natural resources, and public buildings as collateral for outstanding currency

C. Controlling the money supply in order to keep the value of money relatively stable over time

D. Protecting checkable deposits at financial institutions with deposit guarantees

39. If the purchasing power of the dollar is falling, then it follows that:

A. The price index is falling

B. The price index is rising

C. Nominal incomes are falling

D. Interest rates are rising

40. The Federal Open Market Committee (FOMC):

A. Provides advice on banking stability to the Fed

B. Monitors regulatory banking laws for member banks

C. Sets policy on the sale and purchase of government bonds by the Fed

D. Follows the actions and operations of financial markets to keep them open and competitive

Answer:Here are the corrections to your answers:1. C. Consumption, investment,...
Answer:The correct answer is: The standard error of a regression coefficient m...
Answer:The correct answer is: It is the value of the coefficient estimate divi...
Answer:The correct answer is D. R2 statistic; 1.0.The R2 statistic, also known...
Answer:The correct answers are:1. It measures the proportion of the variation ...
Answer:To test the overall explanatory power of a regression equation, one com...
Answer:The standard error of the regression is a statistical measure that quan...
Answer:1. Assumption of the classical linear regression model:- The sample mea...
Answer: Step-by-step explanation:1. Assumption of the classical linear regress...
Answer:1) G) Fiscal Policy2) B) Balanced trade3) I) Aggregate Expenditure Mode...
Answer: The correct answer is: c. as more of a good or service is consumed, th...
Answer:To find the hydroxide ion concentration ([OH-]) in a solution of hydroi...
Answer: Step-by-step explanation: Certainly! Here's a brief historical backgro...
Answer: Step-by-step explanation:Human Resource Management (HRM) in Ethiopia h...
Answer: Step-by-step explanation: Human Resources (HR) refers to the managemen...
Answer:a) To find an expression for the electron's final speed V1 in terms of ...
Answer: The correct option is: b) Adenine, cytosine, guanine, and uracil
Answer: To determine whether the displayed segment is part of a DNA or RNA mol...
Answer: To find the measure of angle SRV, we can make use of the properties of...
Answer: Step-by-step explanation: To determine the empirical formula of the co...

Weekly leaderboard

Start filling in the gaps now
Log in