UK parallel trade - unparalleled change
|
|
- Doris Shaw
- 8 years ago
- Views:
Transcription
1 UK parallel trade - unparalleled change ACHIEVING ACCURATE MEASUREMENT OF THE UK PHARMA MARKET IN A PARALLEL EXPORT ENVIRONMENT EXECUTIVE SUMMARY The change in the balance of UK market dynamics from parallel import to parallel export has proved to be a challenge for the pharmaceutical industry from a supply chain management perspective and when assessing and accurately measuring the UK demand for products from a commercial perspective. It has also proved a challenge for IMS: specifically around how an accurate measure of the UK demand at a local and national level can be provided. IMS has spent 12 months designing and implementing a new more robust editing process specifically to deal with products that are being exported.this new process is based on the premise that, as the patients and prescribers in a brick are the same, any entities supplying drugs in that brick should reflect the same local demand. The development of this new methodology has been a lengthy and complex process and there have been additional challenges around its implementation into the audits, especially as there was a need to correct some of the history. IMS has worked closely with our clients throughout the development and implementation process and the general consensus is that the new IMS editing methodology is robust and allows for a fair and accurate representation of UK demand. The new IMS editing methodology is robust and allows for a fair and accurate representation of UK demand. IMS HEALTH ACHIEVING ACCURATE MEASUREMENT OF THE UK PHARMA MARKET IN A PARALLEL EXPORT ENVIRONMENT 1
2 BACKGROUND The recession that has gripped the world s economies has led to radical changes taking place in European pharma markets where changes in cross-border trading has, it s been argued, created risks to patients lives and posed new, additional challenges for pharmaceutical companies and regulatory bodies alike. One of the characteristics of the UK pharmaceutical market to emerge has been the steady rise of a parallel export (PE) market in products otherwise destined for UK pharmacies.this trend towards PE, rather than parallel imports (PI), developed as the UK s economic crisis deepened and the value of Sterling fell (Fig.1). in Europe to buy pharmaceuticals (Fig. 2). As a consequence a large, viable parallel export (PE) market has developed out of the UK which has also witnessed a sharp decline in parallel imports (PI). A new generation of trading pharmacists (IMS estimates that 11-14% of the UK s 12,500 pharmacists are now exporting product either directly or indirectly through third party license holders) have joined established parallel exporters to participate in profitable export activity.this burgeoning PE market - estimated to be worth around 35m per month from the Pharmacy Channel in Q has trailed a number of issues in its wake. FIGURE 1: THE FALL OF PARALLEL IMPORTS LINKED TO THE DECLINE OF STERLING AGAINST THE EURO. Ratio vs Euro 110% % 90% 80% 70% 60% 50% 40% Aug 08 Mar 08 May 08 Jul 08 Sep 08 Nov 09 Jan 09 PI (SU) Index Euro rate Index IMS PI in SU Mar 09 May 09 Jul 09 Sep PI volume (bn) FIGURE 2: THE RELATIVE PRICES BETWEEN THE UK AND KEY EUROPEAN MARKETS FOR THE 20 BRANDS IN FIG. 1 IN JULY / Dose DEU R CHE R DNK R&H GRC R BEL R AUY R ESP R SWE R&H HUN R IRL R LUX R FIN R EST R NLD R SVN R&H ROM R SVK R PRT R ITA R BGR R FRA R Likely importers POL R LVA R LTU R NOR R CZE R GBR R Likely exporters Number of doses (m) Source: IMS MIDAS Parallel Trade Database Source: IMS MIDAS IMS research indicates that at least 205 medicines are experiencing exports from the UK. More detailed analysis of the top 46 individual products that our new methodology indicates have been over-supplied to the UK market by at least 12%, reveals: 15 medicines experienced 20% or more of their UK demand being exported in May 2009; 4 of these had in excess of 40% export; 6 medicines experienced exports valued in excess of 10m in the last year. Exacerbated by the PPRS price reductions in February 2009 the UK has become one of the cheapest countries The issue attracting the headlines has been the impact of these exports on the supply of product to the UK market.the challenge for pharmaceutical companies has been to ensure enough stock is released into the supply chain to cover UK patient demand whilst avoiding oversupply to the market. Should the balance be wrongly weighted UK patients would find it hard to obtain critical drugs when they needed them most. However, the change in market dynamics from a net importer to a net exporter has thrown up another issue that has challenged both the pharmaceutical industry and IMS: measuring with accuracy the UK demand from a commercial perspective. 2 IMS HEALTH ACHIEVING ACCURATE MEASUREMENT OF THE UK PHARMA MARKET IN A PARALLEL EXPORT ENVIRONMENT
3 UK PT white paper /11/09 13:03 Page 3 ACCURATELY MEASURING UK USAGE IN THE NEW ENVIRONMENT The growth of PE volumes has required IMS to develop a new editing process in order to continue to provide clients with an accurate picture of local demand in the UK.These developments have been undertaken in conjunction with the IMS Statistics Office, using expertise in this area from across Europe. There is strong evidence that export is now the main driver of excess purchasing by UK pharmacies. The current IMS retail sales audits [British Pharmaceutical Index (BPI); Retail Sales Analysis (RSA); and Prescribing Indicator (RxI)] have always been subjected to editing a process that targeted and removed any anomalous sales believed not to be destined for local usage and that were out of trend with historic purchasing and the levels in surrounding pharmacies. In the past these data services have had two edit processes running in parallel: Chains with a central buying point(s), where the end point sale is not visible, are subject to the IMS redistribution process and edited at chain level Chains or independent outlets where the end point sale is visible are edited via the census edits process at the individual outlet level. (See Appendix for more information.) Traditionally the main reason for these anomalous sales has been onward UK trade (grey trading). However, there is strong evidence that export is now the main driver of excess purchasing by UK pharmacies. A new editing methodology Traders Analysis has had to be designed, validated and implemented over the last 12 months to account accurately for the increased volume of PE, and the associated growth of a practice known as skimming. Skimming occurs when trading pharmacies purchase additional low volume products in order to avoid manufacturer quotas and sell the product on for export purposes the skimming effect. In this way inflation occurs in the apparent demand for product locally, thus distorting the true, underlying picture. IMS HEALTH ACHIEVING ACCURATE MEASUREMENT OF THE UK PHARMA MARKET IN A PARALLEL EXPORT ENVIRONMENT 3
4 FIGURE 3: TRADERS ANALYSIS FOR A PRODUCT WHERE EXPORTING COMMENCES IN DECEMBER Relative trade value Non-trader scaled pre-edit Trader pre-edit Trader post-edit 0.00 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Source: IMS BPI / RSA TRADERS ANALYSIS The premise of the new process is straightforward prescribers and patients are the same in each brick and therefore the entities supplying drugs should reflect this same local demand. For 90 per cent of entities ( nontrading accounts or non-traders ) this is true and they set the trends for performance of the market at a local level.these entities include most of the larger chains and around 80 per cent of independent pharmacies.the other ten per cent out-perform in often random patterns, buying where they see the opportunity for export trade ( trading accounts or traders ). The Traders Analysis compares the activity of the export traders with that of non-traders for all products that have been identified as having significant export volumes.the process works by scaling down the nontraders as a group to the size of the traders.the target amount to be edited for each product is calculated by comparing trader and scaled-down non-trader sales. Where the traders are high, the gap sets the national target edit.this target edit is then applied at form/strength level and spread regionally. Figure 3 above illustrates the Trader vs Non-trader program. The dark blue line shows the raw data for the trading accounts (TRADER PRE-EDIT) The original editing reduced the level to the mid-blue line (TRADER POST-EDIT) Once the trader edits have been applied, the trader data is brought down to the level of the orange line which shows the scaled-down behaviour of the non-traders (NON-TRADER SCALED PRE-EDIT). IMS research indicates that at least 205 medicines are experiencing exports from the UK. 4 IMS HEALTH ACHIEVING ACCURATE MEASUREMENT OF THE UK PHARMA MARKET IN A PARALLEL EXPORT ENVIRONMENT
5 FIGURE 4: SCHEMATIC OF THE IMS EDITS PROCESS Raw data Sales into retail chemist & dispensing doctors YES Chain with central buying point NO Redistribution edits NO Explored product? YES Census edits Traders analysis Chain & brick checks Live data Figure 4 demonstrates the new flows of the IMS editing process.the Traders Analysis is the addition to the process which specifically targets products that are believed to be exported. IMS HEALTH ACHIEVING ACCURATE MEASUREMENT OF THE UK PHARMA MARKET IN A PARALLEL EXPORT ENVIRONMENT 5
6 FIGURE 5: IMPLEMENTATION PROCESSES AND TIMELINES 2008 March June October 2009 April First indication of export market Q Immediate actions undertaken (e.g. reducing the quantity limit allowed by redistribution chains) A full review was carried out on all accounts which showed trading activity Monthly traders vs. non-traders review run from July 2008 data for the top 500 products plus the top 50 most highly edited Any products being flagged as exported were reviewed more aggressively for editing. Development of new Traders Analysis programme Pilot markets run through the traders analysis Remaining 205 exported products put through the traders programme. History corrections applied for 2008 and Client Feedback IMPLEMENTATION PROCESSES AND TIMELINES The timeline for implementation is shown above in Figure 5. The development of this new methodology has been a lengthy and complex process and there have been challenges implementing it into the audits, especially as there was a need to correct some of the back data. However, the new methodology is now in place for 205 products and IMS is continuously reviewing trading activity to identify any more products that need to be added. As the parallel trade market continues to evolve we anticipate that more products will be added to the list of exported products. The revised methodology has been discussed in great detail with our Client Advisory Board as well as with a large number of our clients and other Boards including the BAPW, Department of Health, PSNC and ABPI. The general consensus is that Traders Analysis is now a robust process for removing parallel exports from the retail sales audits. 6 IMS HEALTH ACHIEVING ACCURATE MEASUREMENT OF THE UK PHARMA MARKET IN A PARALLEL EXPORT ENVIRONMENT
7 Appendix: Specific details on the IMS editing processes SPECIFICS OF THE RE-DISTRIBUTION EDITS PROCESSS Purchases by all accounts in a group (including warehouse) are summed at molecule/form/strength level The expected value for the chain for that form/strength is calculated from the universe file for all UK shops Each chain is weighted by a shop size and flagged for possible editing if the total chain purchases exceed the expected counting units by a factor of three An edit is suggested that brings the chain down to the expected monthly volume The suggested edit is not always applied but provides a guide for the reviewer who can chose to ignore, amend or apply The remaining product is apportioned across the outlets in the chain according to their size. SPECIFICS OF THE TRADITIONAL CENSUS EDITS PROCESS Census edits are applied to individual chemist and doctor accounts at pack level Each pack is assigned a Quantity Limit (QLIM) the likely reasonable purchase for an average chemist account for a pack based on three months of BPI history data Transactions that exceed 7/5 of the QLIM or, if the value is above 5000, 1/5 of the QLIM, are output as an exception to undergo review Experienced Production Analysts then review the exceptions and assess the amount to be edited, or flag the sales as not edits based on knowledge of the product/entity concerned In general exceptional purchases by accounts that are licensed to trade are edited down to the national average chemist purchase for that pack in the UK. The traditional census edits process would not spot skimming activity by a number of shops. For example, for product A on average two units are purchased by a UK pharmacy. Large pharmacies purchase up to eight units. If the QLIM is set at eight units all purchases above 11 units will be output for review. If Chain A has ten shops which in January purchase two units each totalling 20 units, in February each shop could purchase ten units (chain total 100 units) and not even be assessed for editing.this means that growth of 500 per cent would have been left in the data which in the current market is more likely to represent export or grey trade than real growth due to product switching. SPECIFICS OF THE TRADERS ANALYSIS EDITS PROCESS The Traders Analysis compares the activity of trading pharmacies with non-trading pharmacies at product and then pack level UK and PI sales are aggregated together The trader group represents 11-14% per cent of the pharmacy outlets in the UK If, at national level, the trend of the traders is significantly different from the non-traders a national edit is suggested to bring them back on trend with the growth of the rest of the market This is the maximum that can be removed via the automated process the national cap Local exceptions are generated by looking at trading accounts which have sales that are higher than the average non-traders in the same brick (allowing for shop size variations). IMS HEALTH ACHIEVING ACCURATE MEASUREMENT OF THE UK PHARMA MARKET IN A PARALLEL EXPORT ENVIRONMENT 7
8 ABOUT IMS Operating in more than 100 countries, IMS Health is the world s leading provider of market intelligence to the pharmaceutical and healthcare industries.with $2.3 billion in 2008 revenue and more than 50 years of industry experience, IMS offers leading-edge market intelligence products and services that are integral to clients day-to-day operations, including product and portfolio management capabilities; commercial effectiveness innovations; managed care and consumer health offerings; and consulting and services solutions that improve productivity and the delivery of quality healthcare worldwide. Additional information is available at IMS HEALTH EUROPE & WORLDWIDE 7 Harewood Avenue London NW1 6JB UK Tel: +44 (0) UK_PT_WP_1109
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationCOMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationTRADE WATCH DATA JANUARY T RVSFRRTVL
Public Disclosure Authorized TRADE WATCH DATA JANUARY T RVSFRRTVL Public Disclosure Authorized A C F D H T W B DECRG Public Disclosure Authorized Public Disclosure Authorized *TRADE WATCH is a monthly
More informationUnofficial payments and health financing policy: WHO s perspective
Unofficial payments and health financing policy: WHO s perspective Joseph Kutzin WHO Regional Advisor, Health Systems Financing Visiting Fellow, Imperial College Centre for Health Management 8 th annual
More informationAT&T Global Network Client for Windows Product Support Matrix January 29, 2015
AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 Product Support Matrix Following is the Product Support Matrix for the AT&T Global Network Client. See the AT&T Global Network
More informationEuro Area Current Account Imbalances and the Diagnosis of Income Inflation
Euro area current account imbalances and income inequality Benedicta Marzinotto University of Udine Literature review Literature on current account imbalances in the euro area Inter-temporal (consumption)
More informationMacro trends in asset management flows
Macro trends in asset management flows Trends & Morningstar Fund Summit 26 February 2014 Key concepts on asset managers valuation The value of an asset manager can be defined as the net present value of
More informationRIA in OECD Countries
RIA in OECD Countries RIA Symposium 9 November, 2007 Tokyo, Japan Josef Konvitz, Head of the Regulatory Policy Division, Organisation for Economic Co-operation and Development (OECD) 1 PART I REGULATORY
More informationThe paradox of redistribution revisited, or why targeting may matter less than we thought
The paradox of redistribution revisited, or why targeting may matter less than we thought Ive Marx, Lina Salanauskaite and Gerlinde Verbist 8 March 2013 Claim We aim to show that Korpi and Palme s highly
More informationDEBT LEVELS AND FISCAL FRAMEWORKS. Christian Kastrop Director of Policy Studies Branch Economics Department
DEBT LEVELS AND FISCAL FRAMEWORKS Christian Kastrop Director of Policy Studies Branch Economics Department Introduction OECD average gross government debt increased from 73% of GDP in 2007 to 111% in 2013.
More informationInequality of Opportunity in Educational Achievements
Inequality of Opportunity in Educational Achievements Cross-Country and Intertemporal Comparisons P. Luongo University of Bari Inequality Measurement, trend, impacts and policies UNU-WIDER Conference September
More informationwww.pwc.com/bigdecisions Are you prepared to make the decisions that matter most? Decision making in retail
www.pwc.com/bigdecisions Are you prepared to make the decisions that matter most? Decision making in retail Results from PwC s Global Data & Analytics Survey 2014 retail Showrooming and mobile search.
More informationBig Data and Open Data in Finland
Big Data and Open Data in Finland Sami Niinimäki, Senior Advisor, Ministry of Education and Culture Pirjo-Leena Forsström, Director, CSC IT Center for Science Ltd. Workshop on Big Data and Open Data Brussels,
More informationCommunity Pharmacy in 2016/17 and beyond - proposals Stakeholder briefing sessions
Community Pharmacy in 2016/17 and beyond - proposals Stakeholder briefing sessions 1 CONTENTS Contents This presentation describes our vision for community pharmacy, and outlines proposals for achieving
More informationFamily policies and the on-going economic crisis
Family policies and the on-going economic crisis Leave Policies & Research Network meeting, Paris, 17 October 2013 Willem Adema Senior Economist, Social Policy Division, OECD Diverse trends in family outcomes
More informationCase 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8
Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138 Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 2 of 138 Domain Name: CELLULARVERISON.COM Updated Date: 12-dec-2007
More informationServices Trade: Recent Policy Trends and Incentives
Services Trade: Recent Policy Trends and Incentives Bernard Hoekman World Bank Based on papers by Borchert and Mattoo (services overall) and Dhar and Srivasta (mode 4) May 27, 2009 Services (should) matter
More informationGovernment at a Glance 2015
Government at a Glance 2015 Size of public procurement Strategic public procurement E-procurement Central purchasing bodies 135 Size of public procurement Public procurement refers to the purchase by governments
More informationAnalysis One Code Desc. Transaction Amount. Fiscal Period
Analysis One Code Desc Transaction Amount Fiscal Period 57.63 Oct-12 12.13 Oct-12-38.90 Oct-12-773.00 Oct-12-800.00 Oct-12-187.00 Oct-12-82.00 Oct-12-82.00 Oct-12-110.00 Oct-12-1115.25 Oct-12-71.00 Oct-12-41.00
More informationVULNERABILITY OF SOCIAL INSTITUTIONS
VULNERABILITY OF SOCIAL INSTITUTIONS 2 December 2014 Paris Seminar in Demographic Economics Falilou FALL Senior Economist OECD Economics Department 1 Introduction and outline Social institutions and the
More informationCASE STUDY: E-PHARMACY AT CHELSEA AND WESTMINSTER HOSPITAL, UK
e-business W@tch European Commission, DG Enterprise & Industry E-mail: entr-innov-ict-ebiz@ec.europa.eu, info@ebusiness-watch.org This document is based on sector studies, special reports or other publications
More informationEquipping your Forecasting Toolkit to Account for Ongoing Changes
Equipping your Forecasting Toolkit to Account for Ongoing Changes Presented by: Roger Parlett Supply Chain Manager January 23, 2014 Overview Forecast Set-up Objectives of Creating a Forecast Identify Critical
More informationStart Your. Business Business Plan
Start Your Waste Recycling Business A TECHNICAL STEP-BY-STEP-GUIDE OF HOW TO START A COMMUNITY-BASED WASTE RECYCLING BUSINESS Start Your Waste Recycling Business Business Plan INTERNATIONAL LABOUR OFFICE
More informationSmall Cap Liquidity in 2013
Small Cap Liquidity in 2013 A Year Over Year Comparative Analysis Weeden Program Trading Group January 2014 Disclosure: This publication is prepared by Weeden & Co.'s trading department, and not its research
More informationEmployers Liability Registers
Employers Liability Registers Working in partnership with you to perform an independent audit to meet the FSA s requirements on What are the FSA employers liability requirements? The FSA published updated
More informationImproving pharmaceutical supply chain performance: Pilot programme
Improving pharmaceutical supply chain performance: Pilot programme National Seminar - 6 December 2005 Frank Hill, Head of Supply Chain Services NHS Logistics Contents Background Objectives and methodology
More informationBrammer Invend TM. > Convenience & simplicity > Reduce consumption > Lower inventory costs > Improve productivity. 28 th July 2015
Brammer Invend TM > Convenience & simplicity > Reduce consumption > Lower inventory costs > Improve productivity 28 th July 2015 Agenda What is Invend? Benefits for Brammer s customers Benefits for Brammer
More informationEnhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017
From -JAN- To -JUN- -JAN- VIRP Page Period Period Period -JAN- 8 -JAN- 8 9 -JAN- 8 8 -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -FEB- : days
More informationKlicken Sie, um das Titelformat. zu bearbeiten. The Eurocrisis: new challenges for the EU s. economic policy. Thomas Westphal. 23th of February 2015
The Eurocrisis: new challenges for the EU s Klicken Sie, um das Titelformat economic policy zu bearbeiten Thomas Westphal Klicken Director Sie, General um das European Format Policy des Untertitel-Masters
More informationMENTAL HEALTH AND WORK Policy challenges and policy developments in OECD countries
MENTAL HEALTH AND WORK Policy challenges and policy developments in OECD countries Shruti Singh, Labour Market Economist Directorate for Employment, Labour and Social Affairs Global Healthy Workplace Awards
More informationUntangling Attribution
powered by BRIGHTEDGE Untangling Attribution Mark Fiske VP Channel Marketing Ancestry.com The leading industry event by digital marketers for digital marketers About Ancestry Ancestry is the world's largest
More informationwww.pwc.com/bigdecisions Are you prepared to make the decisions that matter most? Decision making in manufacturing
www.pwc.com/bigdecisions Are you prepared to make the decisions that matter most? Decision making in manufacturing Results from PwC s Global Data & Analytics Survey 2014 manufacturing Raw material supply
More informationEarnings related schemes: Design, options and experience. Edward Whitehouse
Earnings related schemes: Design, options and experience Edward Whitehouse World Bank core course Washington DC, March 2014 Objectives Primary objective: ensuring older people have a decent standard of
More informationA Guide to the Insider Buying Investment Strategy
Mar-03 Aug-03 Jan-04 Jun-04 Nov-04 Apr-05 Sep-05 Feb-06 Jul-06 Dec-06 May-07 Oct-07 Mar-08 Aug-08 Jan-09 Jun-09 Nov-09 Apr-10 Sep-10 Mar-03 Jul-03 Nov-03 Mar-04 Jul-04 Nov-04 Mar-05 Jul-05 Nov-05 Mar-06
More informationwww.pwc.com/bigdecisions Are you prepared to make the decisions that matter most? Decision making in healthcare
www.pwc.com/bigdecisions Are you prepared to make the decisions that matter most? Decision making in healthcare Results from PwC s Global Data & Analytics Survey 2014 healthcare Patient data. Precision
More informationOECD Health Data 2012 U.S. health care system from an international perspective
OECD Health Data 2012 U.S. health care system from an international perspective Released on June 28, 2012 http://www.oecd.org/health/healthdata Why is the US health spending so high? 5 388 5 270 5 056
More informationHow To Explain Euro Area Imbalances
GLOBAL IMBALANCES, CAPITAL FLOWS, AND THE CRISIS Gian Maria Milesi-Ferretti International Monetary Fund Global imbalances have declined.. Even though stock positions are still expanding 20 15 Net foreign
More informationTransfer issues and directions for reform: Australian transfer policy in comparative perspective
Transfer issues and directions for reform: Australian transfer policy in comparative perspective Peter Whiteford, Social Policy Research Centre, University of New South Wales p.whiteford@unsw.edu.au 1
More informationLOS INDICADORES DE CIENCIA, TECNOLOGÍA E INNOVACIÓN EN EL OECD SCOREBOARD: UNA VISIÓN GLOBAL Y SOBRE MÉXICO
LOS INDICADORES DE CIENCIA, TECNOLOGÍA E INNOVACIÓN EN EL OECD SCOREBOARD: UNA VISIÓN GLOBAL Y SOBRE MÉXICO Segundo Taller de Indicadores de Ciencia, Tecnología e Innovación Ciudad de México, 3-31 de enero
More informationOECD HEALTH WORKING PAPERS
IMPROVED HEALTH SYSTEM PERFORMANCE THROUGH BETTER CARE COORDINATION Annex Maria M. Hofmarcher, Howard Oxley, and Elena Rusticelli 30 OECD HEALTH WORKING PAPERS Unclassified DELSA/HEA/WD/HWP(2007)6/ANN
More informationUsing INZight for Time series analysis. A step-by-step guide.
Using INZight for Time series analysis. A step-by-step guide. inzight can be downloaded from http://www.stat.auckland.ac.nz/~wild/inzight/index.html Step 1 Click on START_iNZightVIT.bat. Step 2 Click on
More informationUS Health and Life Insurance Company Overview
US Health and Life Insurance Company Overview Who is US Health and Life Insurance Company? Part of a family of companies committed to the goal of improving the employee benefit experience. We have the
More informationSeptember 6-8. San Francisco, California 1. CLEAR 2012 Annual Educational Conference Medical Marijuana: Politics Meets Regulation
Medical Marijuana: Politics Meets Regulation Presenters: Dr. Heidi Oetter, MD President, Federation of Medical Regulatory Authorities of Canada Richard Morales, Section Director Colorado Division of Professions
More informationEducation & Training Provision in Laboratory Animal Science in the EU
Education & Training Provision in Laboratory Animal Science in the EU Results of a survey carried out by the EU Platform for Education & Training in Laboratory Animal Science, August 2013 Introduction
More informationAfrican Bank Investments Limited Strategies to grow in the mass market
African Bank Investments Limited Strategies to grow in the mass market June 2007 Presentation agenda Who we are Our target market A transforming business Is this a good time to be in this market? Outlook
More informationInsurance Insights. When markets hit motorists. How international financial markets impact Compulsory Third Party insurance
Insurance Insights When markets hit motorists How international financial markets impact Compulsory Third Party insurance August 2012 Chris McHugh Executive General Manager Statutory Portfolio Commercial
More informationRBC Insurance Fetes Online Auto/Home Insurance Growth
Case Studies, K. Harris Research Note 29 October 2002 RBC Insurance Fetes Online Auto/Home Insurance Growth RBC Insurance's e-business successes are generating greater than $3 million in premiums per month.
More informationEconomic Challenges. Bergljot Bjørnson Barkbu, IMF
The Refugee Surge in Europe: Economic Challenges Bergljot Bjørnson Barkbu, IMF LSE Institute of Global Affairs and Ortygia Business School Conference on Managing gmigration Solutions beyond the Nation
More informationThe distribution of household financial contributions to the health system: A look outside Latin America and the Caribbean
The distribution of household financial contributions to the health system: A look outside Latin America and the Caribbean Priyanka Saksena and Ke Xu 3 November, 2008 Santiago 1 The distribution of household
More informationThe Board and its Brokers Tuesday 28 April 2009
The Board and its Brokers Tuesday 28 April 2009 2008 Grant Thornton UK LLP. All rights reserved. Agenda Hugh Aldous Consultant for Grant Thornton Iain Scouller Oriel Securities Joe Winkley Oriel Securities
More informationCLOSING THE COVERAGE GAP. Robert Palacios, World Bank Pension Core Course March 2014
CLOSING THE COVERAGE GAP Robert Palacios, World Bank Pension Core Course March 2014 Different types of coverage gaps 2 In a subset of richer countries, the main kind of gap is related to adequacy rather
More informationEAST AYRSHIRE COUNCIL CABINET 21 OCTOBER 2009 TREASURY MANAGEMENT ANNUAL REPORT FOR 2008/2009 AND UPDATE ON 2009/10 STRATEGY
EAST AYRSHIRE COUNCIL CABINET 21 OCTOBER 2009 TREASURY MANAGEMENT ANNUAL REPORT FOR 2008/2009 AND UPDATE ON 2009/10 STRATEGY Report by Executive Head of Finance and Asset Management 1 PURPOSE OF REPORT
More informationPreliminary Results. 3 March 2015
Preliminary Results 3 March 2015 Matthew Price Chief Financial Officer Trading strongly & investing in technology Revenue EBITDA (adjusted) EPS (adjusted) 248M 95M 12.3p 10% 13% 14% Capital Investment
More informationCompetition in manufacturing and service content of manufactured products
Introduction Competition in manufacturing and service content of manufactured products Carolina Lennon 1 Robert Stehrer 2 2 The Vienna Institute for International Economic Studies (wiiw) 1 Paris School
More informationIncen%ves The Good, the Bad and the Ugly
Incen%ves The Good, the Bad and the Ugly Vale Columbia Center Interna%onal Investment Conference New York, Nov 13-14, 2013 Sebas%an James The World Bank Group 1 Prevalence of Tax Incen%ves around the Number
More informationReacting to the Challenges: Business Strategies for Future Success. Todd S. Adams, Chief Executive Officer Adams Bank & Trust Ogallala, Nebraska
Reacting to the Challenges: Business Strategies for Future Success Todd S. Adams, Chief Executive Officer Adams Bank & Trust Ogallala, Nebraska Adams Bank & Trust Family Owned for 95 Years $525 Million
More informationConvegno Annuale AISIS
Convegno Annuale AISIS Mobile Health: innovazione sostenibile per una sanità 2.0 Mobile Health in Europe: A sustainable approach to better health services and patient value? Roma, 30 ottobre 2014 Radisson
More informationAnnual Shareholder Meeting. June 2012
Annual Shareholder Meeting June 2012 Agenda Call to Order; Opening of Polls Introduction of Directors Introduction of Management Introduction of Independent Registered Public Accounting Firm Designation
More informationComputing & Telecommunications Services Monthly Report March 2015
March 215 Monthly Report Computing & Telecommunications Services Monthly Report March 215 CaTS Help Desk (937) 775-4827 1-888-775-4827 25 Library Annex helpdesk@wright.edu www.wright.edu/cats/ Last Modified
More informationInvesting in Bonds challenges and opportunities in 2015
For Financial Brokers and Advisors Only Investing in Bonds challenges and opportunities in 2015 March 2015 Andy Ivory-Corr, QFA, Grad Dip, CFP Head of Investments New Ireland Assurance What exactly is
More informationThe Impact of Medicare Part D on the Percent Gross Margin Earned by Texas Independent Pharmacies for Dual Eligible Beneficiary Claims
The Impact of Medicare Part D on the Percent Gross Margin Earned by Texas Independent Pharmacies for Dual Eligible Beneficiary Claims Angela Winegar, M.S., Marvin Shepherd, Ph.D., Ken Lawson, Ph.D., and
More informationSector Rotation Strategies
EQUITY INDEXES Sector Rotation Strategies APRIL 16, 2014 Financial Research & Product Development CME Group E-mini S&P Select Sector Stock Index futures (Select Sector futures) provide investors with a
More informationSMARTER COMMUNICATIONS. Results for the year ended 31 December 2012
SMARTER COMMUNICATIONS Results for the year ended 31 December 2012 Disclaimer For the use of the recipient only. Not to be copied or distributed to any other person. This presentation has been prepared
More informationBROMSGROVE DISTRICT COUNCIL PERFORMANCE MANAGEMENT BOARD 16 DECEMBER 2008 PERFORMANCE MANAGEMENT BOARD PROPOSED PROGRAMME 2008/09
BROMSGROVE DISTRICT COUNCIL PERFORMANCE MANAGEMENT BOARD 16 DECEMBER 2008 PERFORMANCE MANAGEMENT BOARD PROPOSED PROGRAMME 2008/09 Responsible Member Responsible Head of Service Councillor - James Duddy,
More informationOutline 4/22/2011. Koc University April, 2011
4/22/211 Koc University April, 211 Outline Main messages Crisis experience and focus Reserves trends Review of existing approaches Proposed new approach and metric Cost of reserves Reserve alternatives
More informationMarket leader investing for continued growth
Market leader investing for continued growth Capital Markets Day, ICA Gruppen 10 December 2014 Anders Svensson, CEO ICA Sverige AB, Deputy CEO ICA Gruppen ICA Sweden in brief 49 years as market leader
More informationMission Partner Environment DISA Multinational Information Sharing
Mission Partner Environment DISA Multinational Information Sharing Col Roman Hund, USAF PM DISA MNIS 13 May 2014 1 JIE MPE Tier 1 and Tier 2 Persistent CCDR level US Centric Bi-lateral /Multi-lateral Specified
More informationIT S ALL ABOUT THE CUSTOMER FORECASTING 101
IT S ALL ABOUT THE CUSTOMER FORECASTING 101 Ed White CPIM, CIRM, CSCP, CPF, LSSBB Chief Value Officer Jade Trillium Consulting April 01, 2015 Biography Ed White CPIM CIRM CSCP CPF LSSBB is the founder
More informationEighth Annual Online Marketing Effectiveness Benchmarks for the Pharmaceutical Industry
Eighth Annual Online Marketing Effectiveness Benchmarks for the Pharmaceutical Industry July 2014 FOR FURTHER INFORMATION, PLEASE CONTACT: John Mangano comscore, Inc. +1 (703) 438-2358 jmangano@comscore.com
More informationMonetary Policy and Mortgage Interest rates
Monetary Policy and Mortgage Interest rates July 2014 Key Points: Monetary policy, which operates through changes in the official cash rate (OCR), is the main lever of macroeconomic management in Australia
More informationTrading Station II / MetaTrader 4 Product Guide 12 November 2012. Page 1 of 14
Trading Station II / MetaTrader 4 Product Guide 12 November 2012 Page 1 of 14 Notice This product summary should be read in conjunction with our Terms of Business. Whilst every effort has been made to
More informationSUMMARY PROFESSIONAL EXPERIENCE. IBM Canada, Senior Business Transformation Consultant
Doreen Funk, MA 191 Discovery Ridge Blvd SW, Calgary Cell: 587-434- 0811 E- mail: dorfunk@hotmail.com SUMMARY Senior management consultant with 20 years of experience in applying strategies and implementing
More informationConsumer prices and the money supply
Consumer prices and the money supply Annual rise. Per cent. -year moving average Money supply Consumer prices - - 9 9 9 96 98 Sources: Statistics Norway and Norges Bank JB Terra Kapitalmarkedsdager, Gardermoen.
More informationAurora Updates Aurora Dividend Income Trust (Managed Fund) vs. Listed Investment Companies
Aurora Updates Aurora Dividend Income Trust (Managed Fund) vs. Listed Investment Companies Executive Summary 21 January 2014 The Aurora Dividend Income Trust (Managed Fund) is an efficient and low risk
More informationOxfam GB Digital Case Study - email
Oxfam GB Digital Case Study - email Friday 19 th July Lizzie Williams Email Marketing Manager Holly Bolter Senior Analyst Mark Lumby Selections & Analysis Manager Emergencies Get Together Campaigns Regular
More informationNASDAQ OMX MAXIMUM ACCESS AND VISIBILITY TOWARDS GLOBAL AND LOCAL INVESTORS
MAXIMUM ACCESS AND VISIBILITY TOWARDS GLOBAL AND LOCAL INVESTORS JOIN THE WORLD S MOST RECOGNIZED BRANDS Listed Companies 2 OUR GLOBAL LISTINGS BUSINESS 8 LISTING OPPORTUNITIES U.S. NORDICS BALTICS LISTINGS
More informationEconomic indicators dashboard
AS OF NOVEMBER 17, 2015 Economic indicators dashboard Vist www.blog.helpingadvisors.com for the full commentary of the Economic Indicators Dashboard. MOST RECENT 3-MO. trend TYPICAL range EXTREME range
More informationEvolution Strategy. Evolution Highlights. Chryson Evolution Strategy & Performance 2012-2013
Evolution Strategy Chryson Evolution Strategy & Performance 20-20 Evolution Highlights Trading with defined strategy Trade CFDs only in FTSE 100 companies Utilising short and long positions Due to the
More informationEnsuring Best Practice in the Notification of Product Discontinuations
Ensuring Best Practice in the Notification of Product Discontinuations Best Practice Guidelines May 2001 Foreword Discontinuing a medicine is a decision that most pharmaceutical companies will take at
More informationFinancial Operating Procedure: Budget Monitoring
Financial Operating Procedure: Budget Monitoring Original Created: Jan 2010 Last Updated: Jan 2010 1 Index 1 Scope of Procedure...3 2 Aim of Procedure...3 3 Roles & Responsibilities...3 Appendix A Timetable...7
More informationAppendix. Appendix Figure 1: Trends in age-standardized cardiometabolic (CVD and diabetes) mortality by country.
Appendix Appendix Figure 1: Trends in age-standardized cardiometabolic (CVD and diabetes) mortality by country. Men Age standardized cardiometabolic death rate per 100,000 800 700 600 500 400 300 200 800
More informationDoes Absolute Latitude Explain Underdevelopment?
AREC 345: Global Poverty and Economic Development Lecture 4 Professor: Pamela Jakiela Department of Agricultural and Resource Economics University of Maryland, College Park Does Absolute Latitude Explain
More informationProposal to Reduce Opening Hours at the Revenues & Benefits Coventry Call Centre
Proposal to Reduce Opening Hours at the Revenues & Benefits Coventry Call Centre Proposal To change the opening hours of the Revenues & Benefits Call Centre to 9am until 5pm Monday to Friday with effect
More informationMeaningful Use: Driving Physicians to eprescribing/emr and Pharma Marketing Opportunities
Meaningful Use: Driving Physicians to eprescribing/emr and Pharma Marketing Opportunities Devin Paullin EVP, New Business Development Physicians Interactive Dan Pucci Director, Informatics Solutions Allscripts
More informationPLANTRONICS PULSAR 260
USER GUIDE PLANTRONICS PULSAR 260 STEREO BLUETOOTH HEADSET WELCOME PACKAGE CONTENTS & FEATURES This user guide provides instructions on the setup and usage of the Plantronics Pulsar 260 Bluetooth Headset.
More informationEconomic Growth: the role of institutions
ECON 184 Economic Growth: the role of institutions ECON 184: Institutions and Growth January 26, 2010 1 Contents 1 Institutions and growth: initial analysis 3 2 How can institutions affect economic growth?
More informationWhy Has Japan Been Hit So Hard by the Global Recession?
IMF STAFF POSITION NOTE March 18, 9 SPN/9/5 Why Has Been Hit So Hard by the Global Recession? Martin Sommer I N T E R N A T I O N A L M O N E T A R Y F U N D INTERNATIONAL MONETARY FUND Why Has Been Hit
More informationABSTRACT NUMBER 007-0001. Arvi Arunachalam Florida International University 305-348-2680
ABSTRACT NUMBER 007-0001 Arvi Arunachalam Florida International University 305-348-2680 Krishnan Dandapani Florida International University 305-348-4241 Sushil K. Gupta Florida International University
More informationTRADING LEVERAGE ON EXCHANGE DAILY LEVERAGE PRODUCTS
London 28/09/2012 TRADING LEVERAGE ON EXCHANGE DAILY LEVERAGE PRODUCTS Trading the markets conference RISK WARNING The following products are suitable for sophisticated retail and professional investors
More informationThe Social Intelligence Report ADOBE DIGITAL INDEX Q3 2013
The Social Intelligence Report ADOBE DIGITAL INDEX Q3 2013 Social media reaches far beyond likes and retweets. Social marketing continues to transform the way brands connect with their audiences. Whether
More informationEmployment, Structural Change, and Economic Development. Dani Rodrik March 15, 2012
Employment, Structural Change, and Economic Development Dani Rodrik March 15, 2012 A remarkable reversal in fortunes since 1990s -.04 -.02 0.02.04.06 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000
More informationCoffee year 2014/15 ends with prices at 20-month low
Coffee year 2014/15 ends with prices at 20-month low The coffee market slumped further in September, following a slight rally in August, with the weakness of the real and peso again proving the most influential
More informationThe Coming Volatility
The Coming Volatility Lowell Bolken, CFA Vice President and Portfolio Manager Real estate Securities June 18, 2015 www.advantuscapital.com S&P 500 Percent Daily Change in Price September 2008 to April
More informationImpact of Regulations and Risk Management in Financial Markets in Europe
SALES OPPORTUNITY ASSESSMENT PRODUCT CATI EMERGING MARKET ENTRY STRATEGY CUSTOMER INTELLIGENCE MARKET SIZING AND FORECASTING INDUSTRY BEST PRACTICE CUSTOMER NEED BEST PRACTICE ASSESSMENT COMPETITIVE INTELLIGENCE
More informationMeridian Energy broker presentation
Meridian Energy broker presentation 4 June, 2014 Meridian Energy will this week give a series of presentations to brokers and their clients on its business. The presentation is attached. For media queries,
More informationTRANSFORMING HEALTH SYSTEM WITH IT Ain Aaviksoo, MD MPH. Deputy Secretary General for eservices & Innovation Ministry of Social Affairs of Estonia
TRANSFORMING HEALTH SYSTEM WITH IT Ain Aaviksoo, MD MPH Deputy Secretary General for eservices & Innovation Ministry of Social Affairs of Estonia To be discussed 1. From data accumulation to information
More informationEDF TRADING A leader in the international wholesale energy market. 13 th November 2013
EDF TRADING A leader in the international wholesale energy market 13 th November 2013 Gas Storage Update in the UK This is a complex subject about which much has been published The role of gas storage
More informationP/T 2B: 2 nd Half of Term (8 weeks) Start: 24-AUG-2015 End: 18-OCT-2015 Start: 19-OCT-2015 End: 13-DEC-2015
2015-2016 SPECIAL TERM ACADEMIC CALENDAR For Scranton Education Online (SEOL), Masters of Business Administration Online, Masters of Accountancy Online, Health Administration Online, Health Informatics
More informationII. Measuring and Analyzing GDP
A Macroeconomic Perspective on the Real Sector: Growth, Economic Fluctuations and Inflation Workshop for Staff of Ministry of National Planning and Economic Development Nay Pyi Taw, Myanmar June 2 3, 2014
More informationResource Management Spreadsheet Capabilities. Stuart Dixon Resource Manager
Resource Management Spreadsheet Capabilities Stuart Dixon Resource Manager Purpose Single view of resource data Shows rolling demand vs supply for 14 months, 2 months back, current month, and 11 forward
More information