Annual Price Research Articles

Optimal energy management of grid-connected PV for HVAC cooling with ice thermal storage system

Studies have shown that reducing cooling energy costs and increasing operational efficiency may be achieved by utilizing ice thermal energy storage (ITES) technology while maintaining the thermal requirements in space cooling facilities. Optimal control of the ITES system and integration of renewable energy (RE) sources such as PV and geothermal, depending on the availability of resources and application, can further improve the operation of HVAC's cooling systems and mitigate the increased energy cost required for ice formation and overall cooling energy.This study presented optimal switching control of the ice-build chiller for ITES charging and PV power source. Inputs to the model, simulations, and validations were implemented using the available data, which include the historical exogenous meteorological data, temperatures at the inlet and exit of the plant components, manufacturer's information, and readings from the plant's SCADA chosen for the case study.The main aim of the study was to develop an optimal control model that minimizes the energy consumption and cost in the Ice built chiller and other devices, such as pump fans in the HVAC system, by optimal charge and discharge of the ITES and supplementary utilization of the greener energy source PV source under the time of use (ToU) tariff and desired cooling load demand. The case study for a healthcare building was considered in implementing the model.Simulations were implemented in the MATLAB optimization toolbox with the Solving Constrained Integer Programs (SCIP) solver, which was chosen to address mixed integer programming (MIP) problems. It incorporates algorithms like a branch and cut conflict analysis and pre-solving techniques to handle intricate optimization problems involving continuous and discrete decision variables.The optimal switching control model yields approximately 33 % of energy cost savings during the summer months that involve using the HVAC with ITES compared to the current system control (baseline). Additionally, the ITES temperature remained below 0 °C to maintain thermal requirements as an operation constraint. The inclusion of PV and battery options as a source of power to the pumps accounted for 10–15 % of the overall energy usage of the system. Optimal control of the system to utilize the stored energy during peak pricing and high demand periods eliminated the extreme dependence on grid energy in some instances. Despite the additional capital required for the controller, solar PV, and batteries installation, the study projects a return on investment within two years, with a 20-year lifetime energy cost savings estimate of 35 % if inflation and annual electricity price increases are estimated at 5 % and 10 %, respectively.

Cancer Drug Price and Novelty in Mechanism of Action

Many economic theories point to regulatory issues and subsidization of research and development costs as the primary factor in the high cancer drug prices in the US. Even so, the association between the median annual cost and novelty of cancer drugs approved in the US remains unclear. To evaluate the association between the median annual cost and novelty of cancer drugs approved in the US over a 6-year period. This cross-sectional study included all cancer drugs approved by the US Food and Drug Administration (FDA) from January 1, 2015, to December 31, 2020. Drug names, indications, manufacturer, dosage, and measures of activity/efficacy were extracted from the FDA announcement. The search was performed in December 2021. Data were analyzed from January 2022 until April 2022. Annual cost of treatment was calculated based on average wholesale price collected from the 2021 Micromedex Red Book database. Mechanism of action was inferred from trial publication or its references. There were 224 cancer drug approvals across 119 individual drugs, with a median annual cost of $196 000 (IQR, $170 000-$277 000). Gene and viral therapies were the most expensive (median, $448 000 [IQR, $448 000-$479 000]), followed by small molecule therapy (median, $244 000 [IQR, $203 000-$321 000), and biologics (median, $185 000 [IQR, $148 000-$195 000]). There was no significant difference in cost between first-in-class, next-in-class, and subsequent approvals of an already approved drug. Findings of this study indicate that the median annual price of anticancer drugs in the US is not associated with the novelty of their mechanism of action.

A Study on the Correlation Between School District Housing Price and Birth Rate in Beijing and Kunming

In China, under the influence of traditional thinking, peoples enthusiasm for buying houses is constantly rising, and the real estate market has always been enthusiastically sought after in China. On this basis, with the development of the economy, it has slowly evolved into school district housing, central business district housing, new city housing and other room types. School district housing has become a hot topic of concern in the whole society. Some researchers believe that fluctuations in the freshman population affect school district housing prices, but there is still a lot of room for research on this view. Therefore, this paper analyzes the correlation between the new population and the housing prices of school districts in representative cities in China by collecting the data of Chinas new population in the past decade, as well as the highest transaction price and average annual transaction price of school districts in China. The study found no correlation between birth rates and house price levels. There is a positive correlation between the birth rate and the growth rate of house prices.

Are Current International Pricing Paradigms for an Efficacious Disease‐Modifying Anti‐Alzheimer’s Treatment Equitable? Are Quality‐Adjusted Life‐Years Worth Considering?

AbstractBackgroundThe June 2021 approval of aducanumab [Aduhelm], initially priced at $56,000/year, followed by the January 2023 approval of lecanemab [Leqembi], initially priced at $26,500/year, generated renewed debate over reasonable and appropriate pricing for disease‐modifying anti‐Alzheimer’s treatments. For equitable pricing of an anti‐Alzheimer’s treatment, what are the optimal patient‐centered pricing paradigms?MethodA literature search of pricing models for anti‐Alzheimer’s, plus other, medicines indicates there are (at least) seven drug pricing models, with value‐based pricing being the most popular. In many countries new medicines are only compared within a certain indication, which may lead us to unknowingly pay substantially more for equal benefit in one disease versus another(1).ResultIn tandem with Leqembi’s expedited review and approval, there was substantial discussion as to what would be reasonable and appropriate pricing. Analysts at the Institute for Clinical and Economic Review [ICER] reported the drug would be cost‐effective at the $8,500 to $20,600 range; their analyses were based on preliminary data. Eisai analysts reported that lecanemab has a societal medicinal value of approximately $37,000, noting that it slowed cognitive decline by 27% over eighteen months(2). The top five selling drugs for multiple sclerosis have an average annual price of $64,760; the average annual cost for the top five cancer drugs is > $165,000.Measurement of outcomes and costs are essential for value‐based pricing. For dementia, the International Consortium for Health Outcomes Measurement [ICHOM] notes that patient‐centered outcome measures represent the ultimate measure of quality and they are always multidimensional. Quality‐adjusted life‐years [QALYs] seem to be absent from the computation of pricing for anti‐dementia treatments. Although consensus on QALY calculations is evasive, currently extant data are compelling. In Australia, the 2023‐adjusted QALY range is $32,618 to $55,415; United Kingdom $49,631 to $98,158, Germany $25,562 to $82,079, Sweden $51,494 to $59,416 and in Japan $56,819 to $67,643(3‐5). Utilizing an 18‐month treatment‐period, a range of QALY valuations will be presented, plus comparisons with the two other clinical indications.Conclusion The inclusion of QALYs for valuation of Alzheimer’s disease medicines warrants consideration; and, The full value of anti‐dementia treatments may be understated in current pricing models.

Investigation of the South African Economy Performance: A Pre, During and Post Covid-19 Era Assessment

The COVID-19 brought disruptions and decline in the economic performance of many countries most especially countries that are less resilient to economic disruptions. Thus, the purpose of this study is to investigate the economic performance of South Africa before, during and after the COVID-19 periods. To measure the economic performance of the South Africa during these periods, secondary data was employed and grouped as follows: national income and prices, labour market, Savings and investment, fiscal position, money and credit, and balance of payments. The descriptive analysis, correlation analysis as well as Wilcoxon signed-rank test were carried out on the dataset using the Statistical Package for Social Science (SPSS) 2022 version. The results obtained indicated some improvements in certain economic indicators such as gross national savings, Gross Domestic Product (GDP), export and import growth as well as gross reserves during the COVID and post COVID periods. Nevertheless, the country witnessed a decline in performance of some economic indicators such as employment rate, public investment, public savings, unit labour rate, gross government debt, annual consumer price inflator, broad money, credit to private sector, current account balance and terms of trade for all the periods. The results further indicate a gradual improvement in the areas of private investment, revenue, expenditure and lending, overall, primary and structural balances after the COVID-19 era. The findings obtained in this study may assist the government, public and private sectors to make informed decisions to promote South Africa’s economic development and resilience.

The impact of drug shortages on drug prices: evidence from China.

Drug shortages pose a serious global public health challenge, affecting China and other countries. Evidence from USA shows that short-supplied drugs demonstrated a very high price growth during and after a shortage. However, the effect of shortages on drug prices in China remains unknown. This paper aims to understand the impact of drug shortages on prices and explore implications for shortage prevention policy. We collected the purchase prices and delivery rates of 120 drugs from April 2019 to December 2021 across whole China. We examined price progression of affected drugs using linear mixed-effects models and performed subgroup analyses based on the number of manufacturers and the severity of shortage. Non-shortage cohort had an annual price growth of 11.62% (95% confidence interval [CI] 8.34 to 14.98). Shortage cohort demonstrated an annual price growth of 8.08% (95%CI 0.12 to 16.77) in the period preceding a shortage, 27.57% (95%CI 6.17 to 52.87) during a shortage, and 9.38% (95%CI -12.64 to 36.39) in the post-shortage period. Drug shortages' impact on prices varied across subgroups. Compared with that of drug markets supplied by a single manufacturer, the price growth rate of markets supplied by more than one manufacture declined more after the shortage resolution. Shortages resulted in significant price increases of study markets, especially the low-priced markets, while the shortage resolution slowed the growth. The primary shortage driver has shifted from the low price to others drivers, such as unavailability of active pharmaceutical ingredients. For currently sole-supplied drugs, the expedited review of applications from other manufacturers should be considered.

The oligopoly’s shift to open access: How the big five academic publishers profit from article processing charges

Abstract We aim to estimate the total amount of article processing charges (APCs) paid to publish open access (OA) in journals controlled by the five large commercial publishers (Elsevier, Sage, Springer Nature, Taylor & Francis, and Wiley) between 2015 and 2018. Using publication data from WoS, OA status from Unpaywall, and annual APC prices from open data sets and historical fees retrieved via the Internet Archive Wayback Machine, we estimate that globally authors paid $1.06 billion in publication fees to these publishers from 2015–2018. Revenue from gold OA amounted to $612.5 million, and $448.3 million was obtained for publishing OA in hybrid journals. Among the five publishers, Springer Nature made the most revenue from OA ($589.7 million), followed by Elsevier ($221.4 million), Wiley ($114.3 million), Taylor & Francis ($76.8 million), and Sage ($31.6 million). With Elsevier and Wiley making most of their APC revenue from hybrid fees and others focusing on gold, different OA strategies could be observed between publishers.

Transfer Pricing System of EU Countries: An Analysis in the Context of SDGS

"Considering that the base erosion and the profit shifting practiced by multinationals could deprive governments of their fair share in taxes and, as a consequence of the financial resources needed to achieve the sustainable development goals (‘SDGs’), governments have started to be interested in the implementation of transfer pricing regulations. The objective of the paper is to analyze the transfer pricing regulations and practices adopted by the EU countries that record a good progress in terms of SDGs vs. EU countries that record a moderate progress in this respect. The results of the study show that the strictness of the transfer pricing system influences the progress regarding the achievement of the SDGs. More exactly, the countries which record a good progress in achieving SDGs have, in general, a stricter transfer pricing system. In order to increase the strictness of the transfer pricing system and the progress in terms of SDGs, countries could implement regulation which envisage: the preparation of an annual transfer pricing documentation; the preparation of a documentation on three levels according to BEPS 13; the adoption of certain measures in order to increase the number of APAs, MAPs and transfer pricing audits; imposing of penalties."

Thermo-enviro-economic analysis of conventional steam distillation system for peppermint oil extraction

Present study explored thermo-enviro-economic analysis of commercial scale conventional steam distillation system for peppermint oil extraction. Effect of peppermint batch sizes on energy measures, net CO2 mitigation and net carbon credit earned are also investigated. Life cycle energy production factor (EPFs) and life cycle conversion efficiency (LCCE) are estimated to be 29.2, 33.1 and 38.9, and 12.6 %, 14.8 % and 17.9 % for 1500, 1700 and 1900 kg batch sizes, respectively, for 18 years of life span. Maximum energy and fuel consumption were 4,966 MJ and 193 kg for 1500 kg, respectively. Plant is anticipated to produce 24 kiloliters of peppermint oil per year with an estimated annual selling price of US$153,960 and profit after tax (PAT) of US$15,592 at a tax rate of 18 %. Return on investment (ROI), internal rate of return (IRR) and payback period (PBP) were 73.9 %, 85.7 % and 1.26 years, respectively. Distillation system has a total embodied energy of 166,237 kWh. Lifetime CO2 mitigation and net carbon credit earned are estimated to be 426.6, 438.5 and 568.8 tonnes and ₹1,95,239 (US$2,383.9), ₹2,63,049 (US$3,211.9) and ₹3,61,518 (US$4,414.3) for 1500, 1700, and 1900 kg batch size, respectively, if traded at the rate of 14.85 $/tonne. Profitability analysis pilot plant is highly rewarding and must be captivating for investors.

Launch and Post-Launch Prices of Injectable Cancer Drugs in the US: Clinical Benefit, Innovation, Epidemiology, and Competition.

Rising cancer drug prices adversely affect patients' adherence and survival. We aimed to identify and quantify factors associated with launch prices and post-launch price changes of injectable cancer drugs in the US from 2005 to 2023. All anticancer drugs with US FDA approval between 2000 and 2022 were identified in the Drugs@FDA database. The sample was then restricted to cancer drugs covered under Medicare Part B (injectable drugs). Data characterizing each drug's clinical benefits, disease epidemiology, approved indications, competition, and price were obtained from FDA labels, the Global Burden of Disease study, and the Centers for Medicare and Medicaid Services. The association between launch/post-launch prices and collected variables was assessed in random-effects regressions. Of 170 cancer drugs with FDA approval between 2000 and 2022, we identified 66 (39%) injectable cancer drugs with quarterly price data from 2005 to 2023. In 2023, mean prices amounted to $27,688 per month, with an average price increase of 94% from 2005 to 2023. Launch and post-launch price changes were significantly associated with the treated disease epidemiology. A 1% decline in disease incidence was associated with a 0.2511% (p=0.008) increase in launch prices and a 0.0086% (p=0.032) annual increase in post-launch prices. Accordingly, launch prices were 120% (p=0.051) higher for orphan than non-orphan drugs, with 3% (p=0.008) greater annual post-launch price increases. Post-launch prices declined by up to -2% annually as new supplemental indications were approved for the same drug. We found no consistent association between launch/post-launch prices and the drugs' clinical benefit in terms of overall survival, progression-free survival, and tumor response. The market entry of new competitors was not associated with price reductions. 28 of 33 drug pairs within the same class had positive correlation coefficients. Pearson correlation coefficients were high (>0.80) for PD-1/PD-L1 inhibitors, CD38 antibodies, CD20 antibodies, HER2 antibodies, and mTOR inhibitors. Cancer drug prices regularly increase faster than inflation; however, there is no evidence that launch prices and post-launch price changes are aligned with the clinical benefit a drug offers to patients. In particular, patients with rare diseases experience greater price increases for their orphan drugs. There is no evidence that brand-brand competition results in drug price reductions.

A new robust modified capuchin search algorithm for the optimum amalgamation of DSTATCOM in power distribution networks

Very sensitive loads require the safe operation of electrical distribution networks, including hospitals, nuclear and radiation installations, industries used by divers, etc. To address this issue, the provided paper suggests an innovative method for evaluating the appropriate allocation of Distribution STATic COMpensator (DSTATCOM) to alleviate total power losses, relieve voltage deviation, and lessen capital annual price in power distribution grids (PDGs). An innovative approach, known as the modified capuchin search algorithm (mCapSA), has been introduced for the first time, which is capable of addressing several issues regarding optimal DSTATCOM allocation. Furthermore, the analytic hierarchy process method approach is suggested to generate the most suitable weighting factors for the objective function. In order to verify the feasibility of the proposed mCapSA methodology and the performance of DSTATCOM, it has been tested on two standard buses, the 33-bus PDG and the 118-bus PDG, with a load modeling case study based on real measurements and analysis of the middle Egyptian power distribution grid. The proposed mCapSA technique's accuracy is evaluated by comparing it to other 7 recent optimization algorithms including the original CapSA. Furthermore, the Wilcoxon sign rank test is used to assess the significance of the results. Based on the simulation results, it has been demonstrated that optimal DSTATCOM allocation contributes greatly to the reduction of power loss, augmentation of the voltage profile, and reduction of total annual costs. As a result of optimized DSTATCOM allocation in PDGs, distribution-level uncertainties can also be reduced.

Daily Oral HIV Pre-exposure Prophylaxis Among Young Men Who Have Sex With Men in the United States: Cost-saving at Generic Drug Price.

Adherence and retention concerns raise questions about the effectiveness and cost-effectiveness of oral HIV pre-exposure prophylaxis (PrEP) in young men who have sex with men (YMSM). Using an adolescent-focused simulation model, we compared annual HIV screening alone with tenofovir disoproxil fumarate/emtricitabine-based oral PrEP with every 3-month HIV screening in YMSM (aged 15-24) at increased risk of HIV. Data derived from published sources included: age-stratified HIV incidence/100 person-years (PY) on- or off-PrEP (0.6-10.1 or 0.4-6.4), PrEP retention at 6 years (28%), transmissions by HIV RNA level (0.0-78.4/100PY) and annual costs of antiretroviral therapy ($32 000-69 000), HIV care ($3100-34 600), and PrEP program/generic drug ($900/360). Outcomes included transmissions (percent of cohort infected), quality-adjusted life-years (QALYs), costs ($), and incremental cost-effectiveness ratios ($/QALY). We explored the sensitivity of findings to variation in HIV incidence and drug prices. Compared with annual screening alone, PrEP would increase QALYs (9.58 to 9.67), reduce new infections (37% to 30%), and decrease costs (by $5000) over 10 years. PrEP would remain cost-saving for HIV incidence off-PrEP ≥5.1/100PY or annual PrEP price ≤$1200. Over a lifetime horizon, PrEP would be cost-saving for HIV incidence off-PrEP ≥1.0/100PY, across all retention assumptions examined. PrEP would not be cost-effective at HIV incidence ≤0.1/100PY, regardless of drug price, due to programmatic costs. In US YMSM at increased risk of HIV, generic oral PrEP and every-3-month screening would be cost-saving compared with annual screening alone, even with high discontinuation and low adherence, over a range of HIV incidences.

MARKET INTEGRATION OF SWEET LIME BETWEEN DOMESTIC AND INTERNATIONAL MARKETS

The study focused on the integration of domestic and international markets for sweet limes during 2021. The co-integration of commodity prices was considered to be necessary for the implementation of a successful marketing reform for which both domestic and international market prices are required. Due to the lack of information regarding international prices, export price information was gathered from thewebsite of the Agricultural and Processed Food Products Export Development Authority (APEDA), and secondary data regarding domestic prices of sweet lime was gathered from the website of the Agricultural Marketing Information Network (AGMARKNET). The annual average prices data for the chosen markets were gathered, and the Pearson correlation coefficient and Johansen’s co-integration analysis approaches were used to analyse the relationship between the chosen market pair. Both markets were found to be correlated through correlation analysis, and the findings of the Johansen Co-integration rank, trace test, and eigen value statistics test were used to analyse the integration among the markets. The study’s findings on market integration reveal how closely related the selected market places’ pricing are to one another. Additionally, this research demonstrated that the model’s variables exhibited an equilibrium longrun co-movement with the market price series.

Impact of Open-Source Community on Cryptocurrency Market Price: An Empirical Investigation

ABSTRACT Although the prices of cryptocurrencies remained volatile for the past decade, the factors that impact the price dynamics of the new type of investment instrument have not been fully identified yet. In this study, we recognize the dual nature of cryptocurrencies, that is, being a software program and a financial instrument, and examine the impact of software advancement on the price dynamics of cryptocurrencies. The open-source software (OSS) platform functionality enables social behaviors that we use as signals. Using data from the largest OSS platform, we establish the connection between open-source activities and the price movement of cryptocurrency. In particular, as project popularity (forks and watches) and users’ feedback (issues) increase, the market price increases by 4.3 percent, 2.4 percent, and 4.4 percent per annum, respectively. On the contrary, the number of code corrections (pull requests) is negatively related to prices leading to a 5 percent annual price decrease. Our results suggest that OSS contributions create a perfect selection mechanism, where higher quality projects receive more developers’ attention and user feedback, whereas lower quality projects do not, thus creating the separating equilibrium.

Comparative value of dapagliflozin vs empagliflozin in patients with heart failure and preserved ejection fraction: A cost-effectiveness analysis.

BACKGROUND: Heart failure with preserved ejection fraction (HFpEF) imposes a high disease burden on patients, primarily because of multimorbidity and frequent hospitalizations. Recently, the American College of Cardiology Expert Consensus recommended treating all patients diagnosed with HFpEF with a sodium-glucose cotransporter 2 inhibitor, such as dapagliflozin or empagliflozin, to reduce the risk of cardiovascular death and hospitalization and improve health status. However, managing HFpEF can be expensive, highlighting the need to assess therapeutic alternatives that can minimize health care costs while optimizing patient outcomes. OBJECTIVE: To compare the cost-effectiveness of dapagliflozin vs empagliflozin in managing patients with HFpEF from the US health care system perspective. METHODS: We developed a Markov model to simulate a cohort of patients with HFpEF (defined as having a left ventricular ejection fraction ≥ 50%) treated with dapagliflozin or empagliflozin. Transition probabilities between 3 health states (HFpEF, hospitalization for heart failure, and death), costs, and quality of life weight input variables were obtained from the literature. In the base-case analysis, we estimated total expected costs, quality-adjusted life-years (QALYs) gained, and the incremental cost-effectiveness ratio (ICER) over a lifetime horizon. All future expected costs and QALYs were discounted at the annual rate of 3%. We conducted sensitivity analyses to demonstrate the robustness of the cost-effectiveness model findings. RESULTS: Dapagliflozin had an incremental expected lifetime cost of $29,896 compared with empagliflozin, resulting in an ICER of $36,902/QALY. Value-based price threshold analysis suggested that for empagliflozin to be cost-effective, it would need a 29% discount on its annual price. In a probabilistic sensitivity analysis, dapagliflozin would be the most preferred cost-effective option at willingness-to-pay thresholds of $50,000/QALY about 72% of the time. CONCLUSIONS: This cost-effectiveness analysis showed that, from the US health care system perspective, dapagliflozin was more cost-effective than empagliflozin, and its uptake may enhance long-term outcomes in patients with HFpEF.

Cost-effectiveness analysis of once-daily oral semaglutide versus placebo and subcutaneous glucagon-like peptide-1 receptor agonists added to insulin in patients with type 2 diabetes in China.

Introduction: Oral semaglutide is a glucagon-like peptide-1 receptor agonist (GLP-1 RA) that improves glycated hemoglobin levels and body weight in patients with type 2 diabetes (T2DM). We aim to evaluate the cost-effectiveness of once-daily oral semaglutide in comparison to placebo and injectable GLP-1 RAs in Chinese patients with T2DM inadequately controlled on basal insulin. Methods: The United Kingdom Prospective Diabetes Study Outcomes Model (UKPDS OM2.1) was used to estimate the cost-effectiveness by calculating the incremental cost-effectiveness ratio (ICER). Baseline characteristics of the simulation cohort were obtained from the PIONEER 8 trial. Utility and safety inputs were derived from a network meta-analysis of 12 trials. Direct medical costs were retrieved from published literature and discounted at an annual rate of 5%. We used a willingness-to-pay (WTP) threshold of $36,528.3 per quality-adjusted life-year (QALY) gained. Scenario analysis, and one-way and probabilistic sensitivity analysis were performed. Results: The effectiveness of oral semaglutide was 10.39 QALYs with a total cost of $30,223.10, while placebo provided 10.13 QALYs at a lower total cost of $20,039.19. Oral semaglutide was not cost-effective at an ICER of $39,853.22 and $88,776.61 per QALY compared to placebo and exenatide at the WTP. However, at an annual price of $1,871.9, it was cost-effective compared with dulaglutide, liraglutide, and lixisenatide. The model was most sensitive to the discount rate and annual cost of oral semaglutide. The price of oral semaglutide needed to be reduced to $1,711.03 per year to be cost-effective compared to placebo and other injectable GLP-1 RAs except for exenatide and semaglutide injection. Conclusion: We found that once-daily oral semaglutide, at a comparable price of semaglutide injection, proves to be a cost-effective add-on therapy to insulin for Chinese patients with T2DM, especially when compared to subcutaneous GLP-1 RAs other than injectable semaglutide and exenatide. However, to achieve cost-effectiveness in comparison to placebo, further cost reduction of oral semaglutide is necessary. The estimated annual cost of $1,711.03 for oral semaglutide demonstrates a more cost-effective option than placebo, highlighting its potential value in the management of T2DM.

Is the profitability of Islamic and conventional banks driven by the same factors?-A study of banking in the Middle East.

The purpose of this paper is to contribute to the existing literature by investigating the determinants of the profitability of Islamic and conventional banks in the Middle East region and revealing the most important factors for these two types of banks. Few papers have studied the performance of Islamic banks and compared their performance with conventional banks. The results from these limited research papers are also various, mainly because the sample sizes are small, or they have analysed data only from one country. Our research used a fixed effect panel data analysis on a sample of 270 banks (111 Islamic and 159 conventional banks) from 12 Middle East countries. We used an unbalanced annual panel of data covering the period 2012-2020. The results show that bank size, equity to assets, annual GDP growth, and annual average oil price have a significant positive effect on Islamic banks' profitability, while non-performing loans to total gross loans and cost of running operations to operating income have a significant negative effect on both bank types. The results also show that non-performing loans to total gross loans and annual GDP growth contribute more to conventional banks profitability, while oil price contributes only to Islamic banks performance. Inflation and net loans to total assets have no effect on bank profitability for either Islamic or conventional banks. Furthermore, we also found that the Islamic banking industry had a more competitive structure. Our findings have important implications for managers, policy makers, investors and other stakeholders. They can help them to make decisions regarding investments, plans, budgeting, evaluation and the management of business operations.

Changes In Net Prices And Spending For Pharmaceuticals After The Introduction Of New Therapeutic Competition, 2011-19.

Previous research has demonstrated that the introduction of a new brand-name pharmaceutical competitor does not lower list prices for existing competitive therapies. However, no study has systematically evaluated the impact of new therapeutic competition on net prices of pharmaceutical products. We identified new therapies approved during the period 2013-17 that were competitors for existing treatments. We used a novel peer-reviewed algorithm to estimate the net prices of existing therapies. We implemented regression models to estimate changes in these net prices after the approval of the new therapeutic competition during the period 2011-19. Across twelve therapeutic classes with new drug entrants in 2013-17, the introduction of new therapeutic competition was associated with a 4.2percent decrease in annual net price growth. The introduction of new brand-name therapies in twelve therapeutic classes reduced net commercial spending on existing therapies by $10.4 billion-an 18.5percent reduction in projected spending absent therapeutic competition. Our findings demonstrate that new therapeutic competition allows pharmacy benefit managers to use formulary management to decrease net prices and reduce drug spending, contrary to observed trends in list price increases.

Housing market shifts favouring transit-oriented development in emerging economies: the link between metro rails and housing price dynamics in Delhi

PurposeThis paper aims to understand the spatiotemporal influence of metro rail connectivity on housing prices in surrounding areas. The study assesses the average annual price shift for apartments around metro stations in Delhi during the previous decade, specifically from 2010 to 2019. The authors examine the spatiotemporal extents to which housing prices are determined by the prominence of metro stations and spatial development around metro stations.Design/methodology/approachThe authors perform the cross-tabulation analysis to calculate chi-square values to test the hypotheses concerning the responsiveness of the housing market in Delhi to the number of locational variables in the areas connected with the mass public transportation system.FindingsThe empirical findings verify the existence of a housing market overvaluation in Delhi around metro stations until 2013, which was eventually re-adjusted after 2014. The key findings of the study suggest the role of location variables concerning metro rails in the shooting up of the housing prices in the city. In addition, the research establishes the association of annual housing price shifts to the metro rails in the short-term, mid-term and long-term in conjunction with the distance from the metro station.Originality/valueIn the market, the prices are often overvalued by real estate agents due to better connectivity to the metro stations. The overvaluation eventually causes massive downfalls in housing markets and rollouts as a risk for the investors. However, the effect of mass transportation on housing prices is mixed in nature, limited to a certain extent only and not as influential as frequently portrayed by the market forces. This effect loses colour with time.

Power Drill Craniostomy for Bedside Intracranial Access in Traumatic Brain Injury Patients.

Invasive neuromonitoring is a bedrock procedure in neurosurgery and neurocritical care. Intracranial hypertension is a recognized emergency that can potentially lead to herniation, ischemia, and neurological decline. Over 50,000 external ventricular drains (EVDs) are performed in the United States annually for traumatic brain injuries (TBI), tumors, cerebrovascular hemorrhaging, and other causes. The technical challenge of a bedside ventriculostomy and/or parenchymal monitor placement may be increased by complex craniofacial trauma or brain swelling, which will decrease the tolerance of brain parenchyma to applied procedural force during a craniostomy. Herein, we report on the implementation and safety of a disposable power drill for bedside neurosurgical practices compared with the manual twist drill that is the current gold standard. Mechanical testing of the drill's stop extension (n = 8) was conducted through a calibrated tensile tester, simulating an axial plunging of 22.68 kilogram (kg) or 50 pounds of force (lbf) and measuring the strength-responsive displacement. The mean displacement following compression was 0.18 ± 0.11 mm (range of 0.03 mm to 0.34 mm). An overall cost analysis was calculated based on the annual institutional pricing, with an estimated $64.90 per unit increase in the cost of the disposable electric drill. Power drill craniostomies were utilized in a total of 34 adult patients, with a median Glasgow Coma Scale (GCS) score of six. Twenty-seven patients were male, with a mean age of 50.7 years old. The two most common injury mechanisms were falls and motor vehicle/motorcycle accidents. EVDs were placed in all subjects, and additional quad-lumen neuromonitoring was applied to 23 patients, with no incidents of plunging events or malfunctions. One patient developed an intracranial infection and another had intraparenchymal tract hemorrhaging. Two illustrative TBI cases with concomitant craniofacial trauma were provided. The disposable power drill was successfully implemented as an option for bedside ventriculostomies and had an acceptable safety profile.