scholarly journals Pharma TARP: A Troubled Asset Relief Program for Novel, Abandoned Projects in the Pharmaceutical Industry

2011 ◽  
Vol 11 ◽  
pp. 454-457 ◽  
Author(s):  
Tamas Bartfai ◽  
Graham Vaughan Lees
Keyword(s):  
Drug Approval ◽  
National Institutes Of Health ◽  
European Medicines Agency ◽  
Troubled Asset Relief Program ◽  
Societal Needs ◽  
Drug Resistant Epilepsy ◽  
Relief Program ◽  
Bail Out ◽  
The U.S

Within days of each other, Pfizer, Merck, and GlaxoSmithKline announced that they will focus on a few therapeutic areas only and abandon others entirely. Pfizer alone will close well over a hundred drug development projects that have reached two-thirds of the way to launch. The programs are deemed to be too risky and not lucrative enough for Big Pharma in the current climate. Society has a real need for the drugs that are no longer going to be developed for, among others, drug-resistant epilepsy, neuropathic and cancer pain, type-2 diabetes, obesity, and schizophrenia. The authors propose a radical response by the U.S. government and the National Institutes of Health to rescue these abandoned projects, and to continue selected programs for drug approval by the U.S. Food and Drug Administration and the European Medicines Agency. The investment required is small compared to the Troubled Asset Relief Program bank bail out, but the return on investment in financial terms and in satisfying societal needs makes this proposal attractive.

scholarly journals The Troubled Asset Relief Program (TARP) And The Financial Crisis Of 2007-2008

2011 ◽  
Vol 7 (12) ◽  
Author(s):  
Anh Phuong Nguyen ◽  
Carl E. Enomoto
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
Discount Rate ◽  
Stock Index ◽  
Font Size ◽  
Troubled Asset Relief Program ◽  
Relief Program ◽  
Treasury Department ◽  
Stock Index Returns ◽  
The U.S

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="color: black; font-size: 10pt;"><span style="font-family: Times New Roman;">When the financial crisis that started in the summer of 2007 took a turn for the worse in the fall of 2008, the Fed and Treasury Department engaged in efforts to stabilize financial markets.<span style="mso-spacerun: yes;">&nbsp; </span>The Fed continuously reduced the discount rate and made loans to AIG, JPMorgan Chase, Morgan Stanley and Goldman Sachs.<span style="mso-spacerun: yes;">&nbsp; </span>The U.S. Treasury Department initiated the Troubled Asset Relief Program (TARP), which many felt was a waste of federal dollars.<span style="mso-spacerun: yes;">&nbsp; </span>Using a GARCH(1,1) model, this paper finds evidence that volatility in stock index returns was reduced after October 14, 2008 when the TARP Capital Purchase Program was announced.</span></span></p>

Between the Wars

2017 ◽  
Author(s):  
Barry Riley
Keyword(s):  
World War Ii ◽  
World War I ◽  
The United States ◽  
Food Aid ◽  
World War ◽  
American Government ◽  
The World ◽  
Relief Program ◽  
Bail Out ◽  
The U.S

The years after World War I and before World War II saw famine, death, and revolution in many parts of the world. Russia suffered these calamities and worse. Hoover found himself again caught up in a struggle to feed millions of foreign citizens with American food. This time the supplicant was bolshevist Russia, a hated enemy, where famine had already caused the deaths of millions. The U.S. Congress was even more unwilling than before to aid Russia, wondering out loud why the United States should bail out a country that was so intent on falling to pieces. This chapter recounts how Hoover overcame U.S. legislative resistance and organized a major relief program in a country with an extremely anti-American government, where transport hardly worked, and where social organizations were frozen in indecision. The chapter then sums up the vastly changed character of American food aid over the period 1794–1924.

HIV

2018 ◽  
Author(s):  
Joshua M. Sharfstein
Keyword(s):  
Public Health ◽  
Drug Administration ◽  
Food And Drug Administration ◽  
Research Process ◽  
National Institutes Of Health ◽  
Health Agencies ◽  
Act Up ◽  
The U.S

The emergence of AIDS in the early 1980s caused a profound crisis for federal health agencies, particularly the National Institutes of Health (NIH) and the U.S. Food and Drug Administration (FDA). Activists in ACT UP, charging that these agencies were failing patients with AIDS, initiated a series of escalating protests. NIH officials, led by Dr. Anthony Fauci, began to talk with the advocates and make major changes in the research process. However, over at the FDA, a protest involving the arrest of hundreds of AIDS activists undermined the agency’s public health image. Eventually, under a new commissioner, the FDA earned back the trust of activists.

scholarly journals The politics of bailouts: Estimating the causal effects of political connections on corporate bailouts during the 2008–2009 US financial crisis

Public Choice ◽  
2021 ◽  
Author(s):  
Vuk Vukovic
Keyword(s):  
Financial Crisis ◽  
Financial Services ◽  
The United States ◽  
Political Campaigns ◽  
Political Connections ◽  
Troubled Asset Relief Program ◽  
Top Executives ◽  
The Government ◽  
The Right ◽  
Relief Program

AbstractIn 2008, as the financial crisis unfolded in the United States, the banking industry elevated its lobbying and campaign spending activities. By the end of 2008, and during 2009, the biggest political spenders, on average, received the largest bailout packages. Is that relationship causal? In this paper, I examine the effect of political connections on the allocation of funds from the Troubled Asset Relief Program (TARP) to the US financial services industry during the 2008–2009 financial crisis. I find that TARP recipients that lobbied the government, donated to political campaigns, or whose top executives had direct connections to politics received better bailout deals. I estimate regression discontinuity design and instrumental variable models to uncover how election outcomes for politicians in close races affected the distribution of bailout funds for connected firms. The results do not imply that some banks were deliberately favored over others, just that favored banks benefited because of their proximity to the right people in power. If being politically connected matters in general, in times of crisis it matters even more.

scholarly journals Association of Cardiometabolic Multimorbidity and Depression With Cardiovascular Events in Early-Onset Adult Type 2 Diabetes: A Multiethnic Study in the U.S.

Diabetes Care ◽  
2020 ◽  
Vol 44 (1) ◽  
pp. 231-239
Author(s):  
John Epoh Dibato ◽  
Olga Montvida ◽  
Francesco Zaccardi ◽  
Jack Alistair Sargeant ◽  
Melanie J. Davies ◽  
...  
Keyword(s):  
Type 2 Diabetes ◽  
Early Onset ◽  
Cardiovascular Events ◽  
Adult Type ◽  
The U.S

Impact of Government Bailout on Banks’ Cost of Equity: Additional Evidence from the Financial Bailout of 2008–2009

2021 ◽  
Vol 24 (01) ◽  
pp. 2150003
Author(s):  
Daphne Wang ◽  
Robert Houmes ◽  
Thanh Ngo ◽  
Omar Esqueda
Keyword(s):  
Institutional Ownership ◽  
The United States ◽  
Matched Sample ◽  
Cost Of Equity ◽  
Troubled Asset Relief Program ◽  
Low Concentrations ◽  
The Government ◽  
The Cost ◽  
Relief Program ◽  
Robust Evidence

The Capital Purchase Program (CPP) was the first and most significant program under the Troubled Asset Relief Program (TARP) during 2008–2009 financial crisis. This study evaluates the effect of the CPP during this period on the cost of equity of 170 publicly listed banks in the United States that received funding. To control for the potential effects of endogeneity on our results, we use a propensity score matched sample of non-CPP banks. Using this approach, we document robust evidence that the liquidity provided by the government bailout reduced the cost of equity for recipient banks, especially for those banks that repaid their bailout funds in full. This decrease in the cost of equity is particularly significant for banks with high market-to-book ratios, low concentrations of institutional ownership, and those banks with at least one large blockholder. Our findings have important implications for the assessment of government bailout programs and the future regulation of financial institutions.

scholarly journals Lifetime Costs of Complications Resulting From Type 2 Diabetes in the U.S.

Diabetes Care ◽  
2002 ◽  
Vol 25 (3) ◽  
pp. 476-481 ◽  
Author(s):  
J. J. Caro ◽  
A. J. Ward ◽  
J. A. O'Brien
Keyword(s):  
Type 2 Diabetes ◽  
Lifetime Costs ◽  
The U.S

64-LB: Glucose Control after Initiation of Flash Glucose Monitoring in Type 2 Diabetes Managed with Basal Insulin: A Retrospective Real-World Chart Review Study from the U.S.

Diabetes ◽  
2021 ◽  
Vol 70 (Supplement 1) ◽  
pp. 64-LB
Author(s):  
ANDERS L. CARLSON ◽  
TIMOTHY D. DANIEL ◽  
ANDREA DESANTIS ◽  
SERGE JABBOUR ◽  
ESRA KARSLIOGLU-FRENCH ◽  
...  
Keyword(s):  
Type 2 Diabetes ◽  
Real World ◽  
Glucose Control ◽  
Basal Insulin ◽  
Chart Review ◽  
Glucose Monitoring ◽  
Flash Glucose Monitoring ◽  
Review Study ◽  
The U.S

Clarence J. Gibbs Effect and the “Creutzfeldt-Jakob Disease” Eponym

Neurology ◽  
2021 ◽  
pp. 10.1212/WNL.0000000000012199
Author(s):  
Douglas J. Lanska
Keyword(s):  
National Laboratory ◽  
Temporal Trends ◽  
Nobel Laureate ◽  
National Institutes Of Health ◽  
Steady Increase ◽  
Human Prion Disease ◽  
Professional Affiliation ◽  
High Profile ◽  
Jakob Disease ◽  
The U.S

In 2014, American neurologist and Nobel laureate Stanley Prusiner reported that microbiologist Clarence Joseph Gibbs at the U.S. National Institutes of Health had intentionally, systematically, and mischievously used the eponym Creutzfeldt-Jakob disease (CJD), rather than Jakob-Creutzfeldt disease (JCD), because of the correspondence with Gibbs’ own initials to imply “Clarence Joseph’s disease.”The present study examines temporal trends in the use of “Creutzfeldt-Jakob” and “Jakob-Creutzfeldt” in scientific articles and monographs from 1946 to 2019 to assess whether there was a “Clarence J. Gibbs’ effect” that influenced the general use of a specific eponym by the scientific community. During Gibbs’ period of publication on CJD, there was an abrupt, dramatic, and steady increase in use of the CJD eponym while use of the JCD eponym remained at a low level. In the period after Gibbs ceased to publish, there was a corresponding marked fall-off in use of the CJD eponym. Surviving collaborators thought Gibbs may have been joking, but in 1991 Gibbs had admitted what Prusiner reported. Regardless of motive, Gibbs strongly influenced the preferred eponym for this human prion disease by: (1) publishing a seminal and highly referenced initial paper in a high-profile journal; (2) sustained output of further important studies published in high-quality journals over more than 30 years; (3) professional affiliation with an esteemed national laboratory where he worked with a large number of high-profile colleagues; and (4) extensive collaborations with a large number of colleagues, who published multiple further papers using the eponym Gibbs preferred.

Abstract 16: Economic Cost of Type 2 Diabetes Attributable to Physical Inactivity in the United States in 2012

Circulation ◽  
2016 ◽  
Vol 133 (suppl_1) ◽  
Author(s):  
Priyank P Shah ◽  
Fayez Shamoon ◽  
Mahesh Bikkina ◽  
Harold Kohl
Keyword(s):  
Physical Activity ◽  
Type 2 Diabetes ◽  
Physical Inactivity ◽  
Leisure Time ◽  
Sensitivity Analyses ◽  
Physical Activity Guidelines ◽  
Average Annual Cost ◽  
The Cost ◽  
The U.S

Objective: Type 2 diabetes has grown to epidemic proportions in the U.S. and physical activity levels in the population continues to remain low, although it is a major primary preventive strategy for diabetes. The objectives of this study were to estimate the direct medical costs of type 2 diabetes attributable to not meeting physical activity Guidelines and to physical inactivity in the U.S. in 2012. Methods: This was a cross sectional study that used physical activity prevalence data from the 2012 Behavioral Risk Factor Surveillance System (BRFSS). Estimates of relative risk of type 2 diabetes for subjects not engaging in any leisure time physical activity and those not meeting physical activity guidelines were obtained for multiple studies published in the literature. Using the prevalence of not meeting physical activity guidelines, physical inactivity and the respective relative risks, the population attributable risk percentage (PAR%) for type 2 diabetes was estimated by Levin’s formula. These data were combined with the prevalence and cost data of type 2 diabetes (in 2012) to estimate the cost of type 2 diabetes attributable to not meeting physical activity Guidelines, and to physical inactivity in 2012. Sensitivity analyses were done for i) varying the prevalence of not meeting physical activity guidelines from 30-70%, and ii) varying the average annual cost of type 2 diabetes from $4394 (for person less than 45 years of age) to $11825 (for person greater than 65 years of age). Results: The prevalence of U.S. population meeting physical activity guidelines and engaging in no leisure time activity was 50% and 30% respectively in 2012. The average annual cost attributable to type 2 diabetes in the US, was $7888 per person. The cost of type 2 diabetes in the U.S. in 2012, attributable to not meeting physical activity guidelines was estimated to be $18.6 billion, and that attributable to physical inactivity was estimated to be $5.9 billion. Based on sensitivity analyses, these estimates ranged from $10.36 billion to $27.9 billion for not meeting physical activity guidelines and $3.3 billion to $8.87 billion for physical inactivity in the year 2012. Conclusions: This study shows that billions of dollars could be saved annually just in terms of type 2 diabetes cost in the U.S., if the entire adult population was active enough to meet physical activity guidelines. Physical activity promotion, particularly at the environmental and policy level should be a priority in the population.

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