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Riitta Ahonen - One of the best experts on this subject based on the ideXlab platform.
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The impact of generic substitution on the turnover and Gross Margin of pharmaceutical companies a survey 1 year and 5 years after the introduction of generic substitution in Finland.
Health policy (Amsterdam Netherlands), 2009Co-Authors: Johanna Timonen, Pekka Karttunen, Marina Bengtström, Riitta AhonenAbstract:To explore and compare the impact of generic substitution (GS) on the turnover and Gross Margin per cent of pharmaceutical companies representing mainly original or generic products in Finland. A mail survey to pharmaceutical companies with an office in Finland and substitutable medicines in the Finnish pharmaceutical market 1 year (2004) and nearly 5 years (2008) after GS. The questionnaire were answered by 16 original and 7 generic product companies in 2004 (response rate 56%, n=41) and by 16 original and 6 generic product companies in 2008 (response rate 56%, n=39). Turnover had decreased in the original product companies and increased in the generic product companies. The Gross Margin per cent had decreased in the original and generic product companies, and the companies had also compensated for it in many ways. The study suggests that GS has promoted the sales of generic product companies in Finland. However, price competition caused by GS has generally decreased the proportion of profit from turnover in the original and generic product companies. The companies have also compensated for their decreased Gross Margin, which suggests that the profit in euros has not been sufficient to cover fixed costs in the companies.
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The impact of generic substitution on the turnover and Gross Margin of pharmaceutical companies a survey 1 year and 5 years after the introduction of generic substitution in Finland.
Health Policy, 2009Co-Authors: Johanna Timonen, Pekka Karttunen, Marina Bengtström, Riitta AhonenAbstract:Abstract Objectives To explore and compare the impact of generic substitution (GS) on the turnover and Gross Margin per cent of pharmaceutical companies representing mainly original or generic products in Finland. Methods A mail survey to pharmaceutical companies with an office in Finland and substitutable medicines in the Finnish pharmaceutical market 1 year (2004) and nearly 5 years (2008) after GS. The questionnaire were answered by 16 original and 7 generic product companies in 2004 (response rate 56%, n = 41) and by 16 original and 6 generic product companies in 2008 (response rate 56%, n = 39). Results Turnover had decreased in the original product companies and increased in the generic product companies. The Gross Margin per cent had decreased in the original and generic product companies, and the companies had also compensated for it in many ways. Conclusions The study suggests that GS has promoted the sales of generic product companies in Finland. However, price competition caused by GS has generally decreased the proportion of profit from turnover in the original and generic product companies. The companies have also compensated for their decreased Gross Margin, which suggests that the profit in euros has not been sufficient to cover fixed costs in the companies.
Johanna Timonen - One of the best experts on this subject based on the ideXlab platform.
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The impact of generic substitution on the turnover and Gross Margin of pharmaceutical companies a survey 1 year and 5 years after the introduction of generic substitution in Finland.
Health policy (Amsterdam Netherlands), 2009Co-Authors: Johanna Timonen, Pekka Karttunen, Marina Bengtström, Riitta AhonenAbstract:To explore and compare the impact of generic substitution (GS) on the turnover and Gross Margin per cent of pharmaceutical companies representing mainly original or generic products in Finland. A mail survey to pharmaceutical companies with an office in Finland and substitutable medicines in the Finnish pharmaceutical market 1 year (2004) and nearly 5 years (2008) after GS. The questionnaire were answered by 16 original and 7 generic product companies in 2004 (response rate 56%, n=41) and by 16 original and 6 generic product companies in 2008 (response rate 56%, n=39). Turnover had decreased in the original product companies and increased in the generic product companies. The Gross Margin per cent had decreased in the original and generic product companies, and the companies had also compensated for it in many ways. The study suggests that GS has promoted the sales of generic product companies in Finland. However, price competition caused by GS has generally decreased the proportion of profit from turnover in the original and generic product companies. The companies have also compensated for their decreased Gross Margin, which suggests that the profit in euros has not been sufficient to cover fixed costs in the companies.
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The impact of generic substitution on the turnover and Gross Margin of pharmaceutical companies a survey 1 year and 5 years after the introduction of generic substitution in Finland.
Health Policy, 2009Co-Authors: Johanna Timonen, Pekka Karttunen, Marina Bengtström, Riitta AhonenAbstract:Abstract Objectives To explore and compare the impact of generic substitution (GS) on the turnover and Gross Margin per cent of pharmaceutical companies representing mainly original or generic products in Finland. Methods A mail survey to pharmaceutical companies with an office in Finland and substitutable medicines in the Finnish pharmaceutical market 1 year (2004) and nearly 5 years (2008) after GS. The questionnaire were answered by 16 original and 7 generic product companies in 2004 (response rate 56%, n = 41) and by 16 original and 6 generic product companies in 2008 (response rate 56%, n = 39). Results Turnover had decreased in the original product companies and increased in the generic product companies. The Gross Margin per cent had decreased in the original and generic product companies, and the companies had also compensated for it in many ways. Conclusions The study suggests that GS has promoted the sales of generic product companies in Finland. However, price competition caused by GS has generally decreased the proportion of profit from turnover in the original and generic product companies. The companies have also compensated for their decreased Gross Margin, which suggests that the profit in euros has not been sufficient to cover fixed costs in the companies.
Bernard Vanlauwe - One of the best experts on this subject based on the ideXlab platform.
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the prospects of reduced tillage in tef eragrostis tef zucca in gare arera west shawa zone of oromiya ethiopia
Soil & Tillage Research, 2008Co-Authors: Balesh Tulema, Jens B Aune, Fred H Johnsen, Bernard VanlauweAbstract:Abstract Soils in Ethiopia are traditionally ploughed repeatedly with an oxen-drawn plough before sowing. The oxen ploughing system exposes the soil to erosion and is expensive for farmers without oxen. This study was undertaken to assess agronomic and economic impacts of alternative, reduced tillage methods. Field experiments were carried out on a Vertisol and a Nitisol for 2 years to study the effect of zero tillage, minimum tillage, conventional tillage, and broad bed furrows (BBF) on the yield of tef (Eragrostis tef Zucca). No significant differences in tef biomass and grain yields were observed between the treatments on both soils in the first year. In Nitisol in the second year, yield was lower in the zero tillage treatment as compared to the other treatments. No difference in yield was observed between single plough, conventional, and BBF. On Vertisol, the yields were higher in BBF as compared to the other treatments. The yields on Vertisol were 1368, 1520, 1560 and 1768 kg ha−1 for the zero tillage, minimum tillage, conventional tillage and BBF treatments respectively. More than twice as much grass weed was observed on zero tillage treatment as compared to the BBF treatment on both soils. Zero tillage gave the lowest Gross Margin on both soils whereas BBF gave the highest Gross Margin. The Gross Margin on Nitisols for the zero tillage and BBF treatments were −108 and 1504 Birr/ha respectively and corresponding numbers for the Vertisol were 520 and 1924 Birr ha−1. On Vertisol there were no significant difference in Gross Margin between minimum tillage and conventional tillage. Minimum tillage is an interesting option on Vertisols, particularly for female-headed households as it reduces the tillage cost. It may also improve overall productivity of the farming system because it allows partial replacement of oxen with cows and reduces soil erosion.
Brian W Gould - One of the best experts on this subject based on the ideXlab platform.
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livestock Gross Margin insurance for dairy the other dairy safety net solution
farmdoc daily, 2014Co-Authors: John Newton, Cameron S Thraen, Brian W Gould, Marin BozicAbstract:With all the attention on the new Margin Protection Program for Dairy Producers (MPP) let us not forget about Livestock Gross Margin Insurance for Dairy Cattle (LGM-Dairy). Similar to MPP, LGM-Dairy is also a USDA risk management instrument which offers protection against declines in average dairy income-over-feed-cost (IOFC) Margins. Introduced in 2008, LGM-Dairy is an insurance product overseen by USDA’s Risk Management Agency. Like crop insurance, LGM-Dairy is sold by private insurance agents and underwritten by the Federal Crop Insurance Corporation (for a complete description of LGM-Dairy rules see here).
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livestock Gross Margin insurance for dairy designing Margin insurance contracts to account for tail dependence risk
2012 Annual Meeting August 12-14 2012 Seattle Washington, 2012Co-Authors: Marin Bozic, Cameron S Thraen, John Newton, Brian W GouldAbstract:Livestock Gross Margin Insurance for Dairy Cattle (LGM-Dairy) is a recently introduced tool for protecting average income over feed cost Margins in milk production. In this paper we examine the assumptions underpinning the rating method used to determine premiums charged for LGM-Dairy insurance contracts. The first test relates to the assumption of lognormality in terminal futures prices. Using high-frequency futures and options data for milk, corn and soybean meal we estimate implied densities with flexible higher moments. Simulations indicate there is no strong evidence that imposing lognormality introduces bias in LGM-Dairy premiums. The remainder of the paper is dedicated to examining dependency between milk and feed Marginal distributions. The current LGM-Dairy rating method imposes the restriction of zero conditional correlation between milk and corn, as well as milk and soybean meal futures prices. Using futures data from 1998-2011 we find that allowing for non-zero milk-feed correlations considerably reduces LGM-Dairy premiums for insurance contracts with substantial declared feed amounts. Further examination of the nature of milk-feed dependencies reveals that Spearman’s correlation coefficient is mostly reflecting tail dependence. Using the empirical copula approach we find that non-parametric method of modeling milk-feed dependence decreases LGM-Dairy premiums more than a method that allows only for linear correlation. Unlike other situations in portfolio risk assessment where extremal dependence increases risk, in agricultural Margins, tail dependence between feed and the Class III milk price may actually decrease insurance risk, and reduce actuarially fair premiums.
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revenue risk management risk aversion and the use of livestock Gross Margin for dairy cattle insurance
Agricultural Systems, 2011Co-Authors: Mayuri Valvekar, Jean-paul Chavas, Brian W Gould, V E CabreraAbstract:The Livestock Gross Margin Insurance for Dairy Cattle is a federally reinsured insurance program that enables US dairy producers to establish minimum levels of milk income net of feed cost. Given the structure of this program there are an infinite number of possible contract designs based on the choice of deductible level and proportion of production insured. Adding to this complexity, producers vary in their risk preferences, which affect the incentive to insure their Margin. It is unclear as to how producers may adopt this program for revenue risk management. This paper investigates the interplay between producer risk preferences, contract design and the subsidization of premium in determining program coverage. We undertook this analysis within an expected utility framework. Optimal contracts under different rates of constant relative rate of risk aversion and subsidies were analyzed using a nonlinear optimization model. We found that total optimal coverage increased significantly with the level of risk of aversion at lower deductibles but as deductible level increased, the level of risk aversion had a lesser impact on total optimal coverages. As expected, at the same deductible and risk aversion levels, inclusion of a premium subsidy increased the total optimal coverage.
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usda s livestock Gross Margin insurance for dairy what is it and how can it be used for risk management
Staff Paper Series, 2011Co-Authors: Brian W Gould, V E CabreraAbstract:Dairy farmers are faced with tremendous and increasing volatility, both in terms of milk prices, and the costs of purchased feed. There is a new weapon in the risk management arsenal of U.S. dairy producers: the Livestock Gross Margin for Dairy (LGM-Dairy) insurance program controls for lower Gross revenue, defined as the value of milk produced minus feed costs. This program is administered by USDA's Risk Management Agency, and made available via authorized crop insurance agents to dairy farm operators in the lower 48 states.
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identifying cost minimizing strategies for guaranteeing target dairy income over feed cost via use of the livestock Gross Margin dairy insurance program
Journal of Dairy Science, 2010Co-Authors: Mayuri Valvekar, V E Cabrera, Brian W GouldAbstract:Milk and feed price volatility are the major source of dairy farm risk. Since August 2008 a new federally reinsured insurance program has been available to many US dairy farmers to help minimize the negative effects of adverse price movements. This insurance program is referred to as Livestock Gross Margin Insurance for Dairy Cattle. Given the flexibility in contract design, the dairy farmer has to make 3 critical decisions when purchasing this insurance: 1) the percentage of monthly milk production to be covered, 3) declared feed equivalents used to produce this milk, and 3) the level of Gross Margin not covered by insurance (i.e., deductible). The objective of this analysis was to provide an optimal strategy of how a dairy farmer could incorporate this insurance program to help manage the variability in net farm income. In this analysis we assumed that a risk-neutral dairy farmer wants to design an insurance contract such that a target guaranteed income over feed cost is obtained at least cost. We undertook this analysis for a representative Wisconsin dairy farm (herd size: 120 cows) producing 8,873 kg (19,545 lb) of milk/cow per year. Wisconsin statistical data indicates that dairy farms of similar size must require an income over feed cost of at least $110/Mg ($5/cwt) of milk to be profitable during the coverage period. Therefore, using data for the July 2009 insurance contract to insure $110/Mg of milk, the least cost contract was found to have a premium of $1.22/Mg ($0.055/cwt) of milk produced insuring approximately 52% of the production with variable monthly production covered during the period of September 2009 to June 2010. This premium represented 1.10% of the desired IOFC. We compared the above optimal strategy with an alternative nonoptimal strategy, defined as a contract insuring the same proportion of milk as the optimal (52%) but with a constant amount insured across all contract months. The premium was found to be almost twice the level obtained under the cost-minimizing solution representing 1.9% of the insured amount. Our model identifies the lowest cost insurance contract for a desired target guaranteed income over feed cost.
N. Craig - One of the best experts on this subject based on the ideXlab platform.
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Rainfall, rotations and residue level affect no-tillage wheat yield and Gross Margin in a Mediterranean-type environment
Field Crops Research, 2017Co-Authors: Ken Flower, P. R. Ward, N. Cordingley, S. F. Micin, N. CraigAbstract:Abstract Wheat yield was obtained over nine years (2007–15) of a long term experiment in a Mediterranean-type climate, to understand the effects of rotation and residue retention on rainfed wheat establishment, yield and Gross Margin under a no-tillage system. The three treatments were based on increasing levels of diversity in the rotation, from ‘monoculture wheat’, ‘cereal rotation’ and ‘diverse rotation’. These treatments, except monoculture wheat, were based on three phase (year) rotations with every phase presented every year. Any winter/spring cereal may be grown in the ‘cereal rotation’ treatment, while the diverse rotation was based on a wheat–legume–brassica sequence. For the period 2007–2010, residue was spread across the plot behind the harvester. The plots were split after 2010 with residue spread on half of each plot, and the other half having the residue windrowed and burnt prior to seeding, which reduced residue levels by 40–66%. This reduction in residue level had a positive effect on wheat yield in years with high levels of cereal residue and had negative, or no effect, when residue levels were relatively low ( −1 ). By contrast, the effect of windrow burning of canola residue on following wheat yield was negligible, even at high residue levels. Therefore the effect of crop residue on wheat yield depended on the type and amount of material. Monoculture wheat and cereal rotation had the highest cumulative 9-year average Gross Margins, despite the diverse rotation showing higher grain protein concentration in most years and improved wheat yield over time. Lower Gross Margins in the diverse rotation were associated with poor legume performance in many years and low canola yields in dry seasons. Improving the reliability of these break crops in this growing environment is the key to increasing their uptake by farmers. Cover crops in the rotation negatively impacted Gross Margins, without any observed yield benefits in the following years, therefore should not be recommended to replace the one cash crop per year in this low rainfall Mediterranean-type environment.
