High Price Variation Research Articles

PHARMACOECONOMIC STUDY OF VARIOUS BRANDS OF ANTI-EPILEPTIC DRUGS AVAILABLE CURRENTLY IN INDIA

Objectives: (a) Compiling a comprehensive list of the available dosage forms and strengths of various antiepileptic drugs marketed in India. (b) Calculating the percentage cost variation of individual drug formulations produced by different pharmaceutical companies. (c) Evaluating the percentage cost variation of these drugs. Methods: The cost of an exact drug (cost per 10 tablets) in the same strength and amount of forms being manufactured by different companies were got from the latest editions of “Current Index of Medical Specialties” and “Indian Drug Review.” The percentage price difference and cost ratio for each formulation were intended. Result: Among single drugs, the highest price variation was found in the drug pregabalin available in the form of capsules (75 mg and 150 mg), and a cost ratio of 6.64 and 5.87 was calculated which was significant. Among combination drugs, tablet Na valproate+valproic acid with the cost ratio of 1.91 was found to be the highest. Conclusion: Our study shows that there is very high price variation in some of the brands of anti-epileptic drugs. Generic prescribing should be promoted in the whole country by creating awareness and implementing proper regulatory guidelines.

Pharmacoecomonic study of oral antidiabetic drugs available in Indian pharmaceutical market

Background: Diabetes mellitus is a metabolic disorder requiring lifelong medication which further adds to comorbidity. Cost of the drug pays an important role in adherence and compliance to the treatment. There is a wide variation in prices of oral hypoglycemic drugs available in Indian pharmaceutical market. Aims and objectives of the study was planned to evaluate cost of oral antidiabetic drugs of various brands currently available in Indian market either as single drug or in combination. Methods: Cost of antidiabetic medications manufactured by various pharmaceutical companies in the same strength and dosage form was obtained from the price list provided by various pharmaceutical companies in current index of medical specialties December 2022-March2023. The cost ratio and percentage price variation for each formulation was calculated and analyzed. Results: Among single antidiabetic drugs, Tab. Metformin 500 mg shows highest percentage price variation (809%) and highest cost ratio (9.09). Among fixed dose combinations, Tab. Glibenclamide 5 mg + Tab. Metformin 500 mg shows highest percentage price variation 300.8% and highest cost ratio 4. Conclusions: Our study shows that there is high price variation for oral anti diabetics. It is important to bring awareness about wide variation in prices so that drug cost can be reduced and made affordable to common man which plays major role in compliance of patient.

EFFECTS OF COVID-19 PANDEMIC ON RICE PRICE VARIATION AMONG CONSUMERS IN KADUNA METROPOLIS, KADUNA STATE, NIGERIA

This study determined the effects of Covid-19 pandemic on rice price variation among Consumers in Kaduna metropolis, Kaduna State, Nigeria. A total of 183 respondents were randomly drawn from the study area. Data for the study were collected through structured questionnaire and information from KADP and RIFAN. The results of the consumption behavior shows that 32.78% consumed rice four times per week while only (4.92%) consumed once per week, whereas 34.97% consumed 7- 9kg of rice per month. Only 34.93% of the respondents spent ₦13000- ₦16000 of their expenditure on rice monthly. Majority (76.5%) preferred imported rice, and 28.5% preferred local rice. Regarding consumer’s preference point to purchase rice, 50.27% preferred buying rice at the local market and 5.46% preferred the supermarket. The result of hedonic pricing model on factors affecting rice price variation among the consumers and it is apparent that the relationship between price and attributes varies within zones. However, under physical attributes there are variables as; Impurities which were all positive and significant at 1% except for Kaduna south, this shows that the higher the impurity the higher the rice price variation among consumers. While under cooking attributes, ease of cooking which was positive in all zones and significant at 1% in Kaduna South, 10% in Chikun, and 5% in Igabi but not significant in Kaduna North. Under Eating attributes were taste which was positive and not significant in Kaduna south but negative and significant in the other 3 indicating that the higher the taste the lower the rice price variation. Other attributes where Origin was found positive and significant at 5% in Chikun but positive and significant at 1% in Kaduna south, Kaduna north and Igabi, indicating the consumers care more about the origin (local or imported) of the rice which causes high price variation. Also, the result from regression analysis on factors that causes shock buying among consumers due to covid-19. The study also revealed 86% of the factors that influences shock buying due to covid-19 were caused by the variables in the model. Emanating from the findings, it can be concluded that, there is a direct and positive relationship, between rice price variation and covid-19 pandemic. The study recommends that rice should be prioritized as a core food crop in food security programmes as it was found to be a necessity in households’ food basket.

Cost analysis of oral hypoglycemic agents available in Indian pharmaceutical market

Background: Diabetes mellitus is “A metabolic disorder requiring lifelong medication which further adds to. Cost of the drug pays an important role in adherence and compliance to the treatment. There is a wide variation in prices of oral hypoglycemic drugs available in Indian pharmaceutical market. Aims and Objectives: The study was planned to evaluate cost of oral antidiabetic drugs of various brands currently available in Indian market either as single drug or in combination. Materials and Methods: Cost of antidiabetic medications manufactured by various pharmaceutical companies in the same strength and dosage form was obtained from the price list provided by various pharmaceutical companies in current index of medical specialties April–July 2022. The cost ratio and percentage price variation for each formulation was calculated and analyzed. Results: The highest percentage price variation is seen with Tab. Metformin 809% and lowest with Tab. Glibenclamide 5 mg 46.8% while the highest cost ratio is seen with Tab. Metformin 9.09 and and lowest cost ratio Tab. Glibenclamide 5 mg 1.46. Other oral anti diabetic drugs with percentage price variation and cost ratio are Tab. Gliclazide 30 mg–346.7% and 4.46, Tab. Pioglitazone 15 mg 299% and 3.99, Tab. Voglibose 0.2 mg 352% and 4.52. Conclusion: Our study shows that there is high price variation for oral anti diabetics. It is important to bring awareness about wide variation in prices so that drug cost can be reduced and made affordable to common man which plays major role in compliance of patient.

ECONOMICS OF PRODUCTION OF TURMERIC IN SURKHET DISTRICT OF NEPAL

Turmeric (Curcuma longa) is a high value spice crop of high medicinal and economic concern in Nepal. The most important component found in turmeric which makes it valuable in the market is curcumin which is very helpful in the treatment of many diseases. For this study, proportionate sampling technique was taken to select a total of 120 sample farmers from the five study areas of surkhet district viz. Panchapuri municipality, Lekbesi municipality, Bheriganga municipality, Chaukune rural municipality and Barahataal rural municipality. The study showed that the BC ratio of turmeric production was 1.32 with the total production cost of NRs. 13083.18 and gross revenue of NRs. 17225.91. The low BC ratio was due to the high seed rhizome price which shares about 34.07% of total cost of production and low mechanization. The regression analysis of the obtained data showed that the input resources like human labor, bullock labor, FYM cost and miscellaneous costs are underutilized whereas the seed cost is over utilized. The coefficient of return to scale is 0.317709 which indicates the diminishing rate of return in turmeric production meaning if 10% of the input resource is increased, only 3.2% of production will be increased. Price of turmeric seed rhizomes have been increased by 62.07% in recent 5 years showing the high price variation in seed rhizomes in study area. Thus, to fight with various problems associated with turmeric production, government intervention, extensive trainings, and mechanization are strongly recommended.

Cost variation analysis of nonsteroidal anti-inflammatory drugs available as single formulation in the Indian market

Background: Nonsteroidal anti-inflammatory drugs (NSAIDs) are one of the most commonly prescribed and over the counter (OTC) used drugs worldwide for their analgesic, anti-inflammatory, and anti-pyretic properties. India being a hub for pharmaceutical industries, manufacture large number of branded and generic drugs. Thus, there is wide variation in their cost. Prescribing drug without considering the cost of therapy may result in loss of compliance or imposes economic burden on patient. Aim and Objective: The aim of the study was to evaluate existing price variation of different single NSAIDs formulations available in Indian market. Materials and Methods: Price of NSAIDs manufactured by different pharmaceutical companies in India, in the same strength, was obtained from Current Index of Medical Specialties, January-April 2020, Drug Today October-December 2019, and 1 mg.com. Difference in the maximum to minimum price of the same formulation manufactured by different pharmaceutical companies and percentage cost variation was calculated. Results: price of 14 NSAIDs that are available in 56 different formulations and manufactured by different pharmaceutical companies was obtained and evaluated. Study shows largest variation with Nimesulide 100 mg (5476.74%), piroxicam DT 20 (3071.46%), piroxicam 20 mg (2853.36%), diclofenac 50 mg (2786%), Aceclofenac 100 mg (2345.6%), and ibuprofen 400 mg (1198.70%) and minimum variation was seen with Aspirin 150 mg (90.47%) in oral formulations. All formulations of Diclofenac injection show very high price variation. Diclofenac 1% gel shows maximum price variation of 778.66% while Nimesulide 1% gel shows minimum variation of 159.32%. Conclusion: Our study finding showed significant cost variation in different brand of NSAIDs available in India. The physician must choose the drug on the basis of cost and rationality rather than on the basis of claims done by various pharmaceutical companies. Modifications in pharmaceutical policy with strict control on huge price variations are the need of time.

A cost variation analysis of various brands of oral anti-diabetic drugs currently available in Indian pharmaceutical market

Background: Diabetes mellitus is a metabolic disorder requiring lifelong treatment. There are a large number of anti-diabetic drugs available in the Indian market. The cost of drugs plays an important role in patient’s care, warranting the need for all physicians to keep themselves updated with the latest prices and price variation of various brands of anti-diabetic drugs. The objective of this study is to evaluate the cost of oral anti-diabetic drugs of different brands currently available in the Indian market.Methods: Cost of oral anti-diabetic drugs manufactured by different pharmaceutical companies in the same strength and dosage forms was obtained. The percentage price variation and cost ratio for each formulation was calculated.Results: In sulfonylurea group of drugs, maximum price variation was seen in glimepiride 1mg 1366% and minimum was seen in glipizide 2.5 mg 17%. In non-sulfonylurea group of drugs, a maximum variation was seen in metformin 500 mg 809% and a minimum variation was seen in acarbose 100 mg 10%. Among the fixed dose combination therapy, glimepiride 2 mg and metformin 500 mg showed the highest price variation 555% and pioglitazone 7.5 mg and metformin 500 mg showed the least price variation 8%.Conclusions: Our study showed that there is a very high price variation for oral anti-diabetic drugs by different brands. Since diabetes mellitus is a chronic illness, cost of the drug plays an important role in compliance to the treatment regimen. It is necessary to bring awareness regarding this wide variation in prices, such that the drug costs can be reduced and made more affordable to the common man.

Flash crash and policy uncertainty

This paper constructs a generalized theoretical model to examine potentially high price variation and insufficient liquidity as the requirements for an enormous crash in a short period. In a market with insufficient liquidity, rapid changes in information induce selling pressure, therefore, this paper defines the prerequisite of a flash crash (large-scale decline in a short period of time) as when a market has insufficient liquidity and high price variability. Policy uncertainty provides an environment conducive to the occurrence of flash crashes. The paper examines the effect of economic policy uncertainty on the daily returns of the U.K. stock and foreign exchange markets. The results reveal that policy uncertainty is highly correlated with the risk of short-term, large-scale decline, which validates the theoretical inference of this paper. Although the timing at which extreme risks emerge is difficult to predict, this paper includes policy uncertainty as a factor to explain market conditions that can lead to flash crashes and remind traders to consider this factor when predicting the risk and value at risk of a market.

Statins utilization and price variations-comparison between Ukraine and Bulgaria

Introduction: High prevalence rate of CVD and high rate of CVD deaths attributed to high cholesterol leads to increased statins utilization. The aim of this study is to analyse the difference in prices between generic and innovator and utilization of INNs of statins available in Bulgaria and Ukraine. Materials and Methods: The study is retrospective and observational analysis of changes in prices. On total, 7 INN and 18 dosage forms are included in the study. Utilization of statins has been measured in DDD/1000 inh/d. Results: The results reveal considerable price differences in the prevailing part of the observed dosage forms between 2013 and 2016 and higher price variations. Two of the lowest and three of the highest prices have not been changed in Bulgaria. For the same period in Ukraine ten lowest and five highest prices have decreased, while one lowest and six highest have increased. Statins utilization is much higher in Bulgaria than that in Ukraine. Conclusions: Prices of statins tend to decrease in Bulgaria more than in Ukraine. In both countries there is a slight tendency of reduced utilization, whereas the consumption of statins in Bulgaria is much higher than that in Ukraine. The study confirms that medicine utilization depends on prices and the health policy in the countries.

Survey on the availability, price and affordability of selected essential medicines for non-communicable diseases in community pharmacies of Kathmandu valley

Background:The access to essential medicines for non-communicable disease treatment is unacceptably low worldwide. The fundamental right to health cannot be fulfilled without equitable access to essential medicines.Methodology:A cross-sectional study was carried out in 94 community pharmacies of Kathmandu valley. Non-probability quota sampling method was adopted for the purpose. Village Development Committees with more than 5000 populations were included in the study. The availability of the selected essential medicines, their price and producer identity were observed. Data entry and analysis were carried out in Microsoft Excel and Statistical package for social science.Result:The availability of the essential medicines was not 100% in Kathmandu valley. High competition and high price variation were seen in metformin 500 mg (254.6%) and atorvastatin 10 mg (327.6%). The study showed that maximum (54.7%) brands were manufactured in Nepal. Furthermore, atorvastatin 10 mg (0.6 day wage) was found to be quite expensive, and glibenclamide 5 mg (0.1 day wage) was the cheapest one for diabetes mellitus treatment for 1 month of treatment period compared to daily wages of other essential medicines.Conclusion:The availability of the selected essential medicines was found to be ununiform and insufficient in the entire region. High competition was observed in the products with high price variation, and the access to cost-effective brand was poor. Furthermore, it was found that government salary is affordable to treat non-communicable disease with the help of the essential medicines.

TECHNICAL AND ECONOMIC ANALYSIS OF IRRIGATION, FERTIGATION AND PLASTIC COVER ON THE TABLE GRAPE 'ITÁLIA' IN THE SERRA GAÚCHA, STATE OF RIO GRANDE DO SUL, BRAZIL

Recent drought periods in the Serra Gaucha Region have triggered farmers´ interest in adopting irrigation (IS) and fertigation systems (FES).There is little technical information regarding irrigation features and management, high price variation, variety of irrigation equipment brands and their useful life, and there is little technical and economic irrigation data to assist farmers. The objective of the present study was to study the technical and economic feasibility of irrigation, fertigation and plastic cover for the table grape cultivar ‘Italia’ vineyards in the Serra Gaucha region, considering climatic conditions and irrigation systems used. For technical and economic feasibility of IS and FES installation in the ‘Italy’ table grape vine yards under plastic cover in the Serra Gaucha region there must be a productivity increase from 29% (IS low cost, long useful life and installed in the plant production stability phase) to 53.7% (FES automated, short useful life and installed in the first year of growing crop phase).

The Role of Financial Investments in Agricultural Commodity Derivatives Markets

This paper investigates the relationship between futures prices and financial investments in derivatives of the main agricultural commodities. We first provide a broad picture of how these markets function and how they have evolved, showing that traders who deal mostly in commodity index investments (swap dealers) have gained importance since the mid-2000s. However, traditional financial market participants (money managers) still show the stronger (simultaneous) correlation with price movements. Our main empirical analysis aims to gauge the influence of financial investors’ positions on both the level and the volatility of futures prices. The Granger-causality tests suggest that speculative investments usually follow – rather than precede - variations in futures returns. Employing a GARCH model, we find that the activity of money managers tends to be associated with lower volatility of futures returns, while that of swap dealers is sometimes followed by higher price variations.

A REGIONAL ANALYSIS OF AGRICULTURAL PRICE RISK IN SOUTH AFRICA / 'n Streeksanalise van landbou prysrisiko in Suid-Afrika

Regional output/input price differentials and variations were calculated to evaluate price risk in South Africa. It was found that price unstable regions are not necessarily also risky regions as regions with higher output/Input price ratios can handle higher price variations better. The average value of the price index for the top ten regions is over 3 times larger than the average for the ten lowest regions. The higher the prices of inputs relative to output prices (the lower the price ratio), the smaller their application to each hectare of land, and the lower the land productivity. The regional prices appears to be a function of the interaction between differential natural and economic factors in different regions.