Some aspects of Financial Statements preparation in pharmaceutical industry

2021 ◽  
pp. 192-198
Author(s):  
Е.Н. Домбровская ◽  
А.Ю. Фурман
Keyword(s):  
Pharmaceutical Industry ◽  
Shelf Life ◽  
Financial Statements ◽  
Pharmaceutical Companies ◽  
Key Features ◽  
The Cost

В статье приведены выводы по результатам анализа отчетности компаний фармацевтической отрасли, подготовленной по МСФО. Рассмотрены некоторые аспекты подготовки отчетности, которые необходимо принимать во внимание компаниям, осуществляющим деятельность по реализации фармацевтической продукции. Среди таких ключевых особенностей рассмотрен учет торговых скидок, их отражение в отчетности, учет запасов, в частности, формирование резервов по сроку годности, резервов под снижение стоимости товаров. Также предложены некоторые схемы по механизму формирования резервов, а также предоставления торговых скидок. This article provides conclusions on the analysis of the IFRS reporting of pharmaceutical companies. This article discloses some aspects of the preparation of financial statements. Among these key features are trade discounts and their reflection in the reporting, inventory accounting, accounting for reserves for the shelf life, for the reduction in the cost of goods sold. Some schemes are proposed for the mechanism of forming reserves, providing trade discounts.

scholarly journals Trend Analysis of Cost Components in Select Pharmaceutical Companies

2019 ◽  
Vol 8 (4) ◽  
pp. 2289-2298
Keyword(s):  
Pharmaceutical Industry ◽  
Trend Analysis ◽  
Health Benefits ◽  
Annual Reports ◽  
Pharmaceutical Companies ◽  
Manufacturing Costs ◽  
Operating Profit ◽  
The Future ◽  
The Cost ◽  
Cost Components

The purpose in this paper is to identify the cost components which are vital in consideration towards manufacturing especially in pharmaceutical companies. The manufacturing costs are significant in total expenses in pharmaceutical industry. In this study, a thorough investigation on the cost components and the trend in expenses and operating profit of pharma companies are studied, giving due regard to cost components to have understanding and to find out how they may differ among various types of pharma companies. The data published in the annual reports from 2009 to 2018 of top five pharmaceutical companies based on their annual revenues has been selected for further diagnosis. The analysis reveals that manufacturing costs are different for all the five companies. The study also reveals that there is a considerable indication that the companies are conscious on the much-needed health benefits to the society in the future at an affordable cost

scholarly journals Risk Management in the Pharmaceutical Industry in Slovenian Companies

2017 ◽  
Vol 8 (1) ◽  
pp. 42-49 ◽  
Author(s):  
Nina Bucalo ◽  
Borut Jereb
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Pharmaceutical Industry ◽  
Pharmaceutical Companies ◽  
Regulatory Requirements ◽  
The World ◽  
High Level ◽  
The Cost ◽  
Effective Assessment ◽  
World Supply

Abstract The pharmaceutical industry is one of the most competitive businesses in the world. Supply chain in this industry has been directed towards the production of large batches to avoid lack of supplies, and the achievement of regulatory requirements, at the cost of high level of inventory, higher costs and inventory write-off due to expiration or other reasons. In recent years this industry is facing major changes and challenges such as intense globalization processes, increased competition and innovations in technologies, which has broadened and deepened risks in supply chain. The paper reports the results of the study of the risk in distribution processes of Slovenian pharmaceutical companies, which was conducted among five companies and aims to draw attention to risks that arise in supply chain, to emphasize the importance of their management and to present a model for an effective assessment of risk in companies, developed at the Faculty of Logistics.

scholarly journals Financial Performance of Indian Pharmaceutical Companies: Analysis of Leverage and Cost of Capital

2020 ◽  
Vol 1 (1) ◽  
pp. 13-22
Author(s):  
Ahmed Mahdi Abdulkareem
Keyword(s):  
Cost Of Capital ◽  
Investment Decision ◽  
Financial Statements ◽  
Annual Reports ◽  
Pharmaceutical Companies ◽  
Financial Leverage ◽  
Significant Difference ◽  
The Cost ◽  
Operating Leverage ◽  
Practical Implications

Purpose: The main aim of the study is to examine the performance of selected pharmaceutical companies in India based on the Degree Of Operating Leverage, Degree Of Financial Leverage, Degree Of Combined Leverage, and Cost Of Capital. Approach/Methodology/Design: Five pharmaceutical companies were randomly selected, and the annual reports and financial statements of these companies were analyzed. The analysis methods involved Degree Of Operating Leverage, Degree Of Financial Leverage, Degree Of Combined Leverage, and Cost Of Capital. ANOVA test was also employed to test hypotheses. The study is made for five years from 2013-14 to 2017-18. Findings: The results of the study reveal that there is a significant difference in the (means) variables in terms of leverage (operating, finance, and combined) and cost of capital. All leverages are different to each other and the cost of capital. The analysis reveals that Sun Pharma performed well during the study period, whereas Lupin underperformed in all aspects. Practical Implications: The leverage and cost of capital are very important components for deciding whether to invest or not in pharmaceutical companies. The present study highlights the financial performances and growth of the selected pharmaceutical companies. Originality/value: The results of the paper give certain indicators about the performance of the selected companies. These indicators can be used to inform an investment decision.

scholarly journals The Innovation-Remuneration Index (IRI). Making pharmaceutical companies report what matters about innovation.

2021 ◽  
Author(s):  
Adam Cohen ◽  
Rebecca Ultee ◽  
Glenn Veldhoven
Keyword(s):  
Pharmaceutical Industry ◽  
Annual Reports ◽  
Pharmaceutical Companies ◽  
Pharmaceutical Firms ◽  
Objective View ◽  
The Cost ◽  
A Company ◽  
What Matters

There is a lack of transparency about the cost of innovation of the pharmaceutical industry even though these costs are claimed to be the major driver for high prices for medicines. This is reflected by annual reports of the major pharmaceutical firms that contain a low number of pages on innovation and its detailed costs, in comparison to pages about remuneration of executives where the detail is excessive. The Innovation/Remuneration Index (IRI) provides an objective view of the transparency priorities of a company and has the potential to shift this focus in favour of transparent and detailed information on the cost of innovation.

The importance of the Polish pharmaceutical market for the economy

2019 ◽  
Vol 32 (3) ◽  
Author(s):  
Katarzyna Pogorzelczyk ◽  
Marta Gallas ◽  
Marlena Robakowska ◽  
Przemysław Żuratyński ◽  
Sylwia Jałtuszewska ◽  
...  
Keyword(s):  
Statistical Analysis ◽  
Pharmaceutical Industry ◽  
Literature Review ◽  
Research Methods ◽  
National Economy ◽  
Global Economy ◽  
Business Models ◽  
Financial Statements ◽  
Pharmaceutical Market ◽  
Pharmaceutical Companies

The pharmaceutical market is one of the most developed sectors of the global economy at present. The largest pharmaceutical companies flexibly are shaping business models, giving up the consolidation and incorporations for forming diversified organizations concentrated on special fields, restructuring one's research-developmental centres. And so analysis of legislative acts, as well as reports and financial statements of the Polish pharmaceutical industry is a purpose of the work – with the pressure on his development, the production, the sale and planned action with reference to the national economy. Contents and materials, based on which they made following analysis, were based above all on data received directly from pharmacies and pharmaceutical companies. Research methods concentrated on the literature review and an own statistical analysis and descriptive.

scholarly journals THE IDENTIFICATION AND SYSTEMATIZATION OF FINANCIAL ASSETS AND LIABILITIES, EXPOSED TO FINANCIAL RISKS, ON THE EXAMPLE OF THE PHARMACEUTICAL INDUSTRY

2019 ◽  
pp. 134-142
Author(s):  
O. Ageeva ◽  
A. Yolkina
Keyword(s):  
Pharmaceutical Industry ◽  
Financial Statements ◽  
Pharmaceutical Companies ◽  
Financial Risks ◽  
Financial Assets ◽  
Management Decisions

The best methods of identification of the financial assets and liabilities with highest risk concentration on the example of pharmaceutical companies have been considered. It is well known, that significant risks are subject to disclosure in financial statements of organization, because they can influence management decisions. It is important for professionals to understand how to correctly identify and assess the risks, influencing the financial statements, as well as to form a list of assets and liabilities, that are more affected by them. The above questions can be answered by the approaches presented in the article to the identification, assessment and systematization of risks, their impact on the financial statements, as well as the conclusions, formulated by the authors as a result of the research.

Glembotskaya G.T., Eremin S.Yu. Scientific and practical approach to optimizing costs on development and promotion of drugs

2019 ◽  
Vol 2019 (3) ◽  
pp. 47-53
Author(s):  
Галина Глембоцкая ◽  
Galina Glembockaya ◽  
Станислав Еремин ◽  
Stanislav Eremin
Keyword(s):  
Scientific Literature ◽  
Pharmacological Action ◽  
Pharmaceutical Market ◽  
Pharmaceutical Companies ◽  
Strategic Development ◽  
The World ◽  
The Russian Federation ◽  
The Cost ◽  
Further Development ◽  
Registration Phase

In order to identify promising strategic development possibilities for the pharmaceutical industry in the Russian Federation, a pilot study was conducted, which has analyzed the main trends in the development of innovative medicines. As a result of the content analysis of available sources of scientific literature, the characteristics of options used in the world practice for increasing the innovative activity of individual subjects and the pharmaceutical market as a whole are presented. Possible reserves for the further development of the innovative component of the pharmaceutical market within the framework of the concept of personalized medicine according to the P4 principle (predictive - personalized - preventive - participatory) are identified and structured. The results of use by individual pharmaceutical companies of scientifically and practically justified approaches to optimizing the costs of development and promoting drugs are presented. The advantages and real prospects of a generally accepted method to reduce the cost of development by «expanding the pharmacological effect» (label expansion) of already existing drugs with a known safety profile in the world practice are shown. A scientific generalization and structuring of the goals and results of the post-registration phase of clinical trials to expand the pharmacological action of a number of drugs already existed at the market have been carried out.

Processed Gingers: Current and Prospective Use in Food, Cosmetic, and Pharmaceutical Industry

2019 ◽  
Vol 10 (1) ◽  
pp. 20-26 ◽  
Author(s):  
Jae-Suk Choi
Keyword(s):  
Pharmaceutical Industry ◽  
Adverse Effects ◽  
Shelf Life ◽  
Traditional Medicine ◽  
Functional Foods ◽  
Zingiber Officinale ◽  
Raw Material

Ginger (Zingiber officinale) has been widely used in traditional medicine, and as raw material for cosmetics, beverages, and health functional foods. However, some adverse effects of ginger have been reported. In addition, the hot and pungent taste of ginger leads to reduced consumption. To overcome these problems, methods for the production of fermented, steamed (or steamed-dried), aged, roasted and beopje ginger have been developed. This review provides an overview and summary of new ginger processing procedures, including methods to reduce the pungent flavor of ginger, extend shelf-life, increase the health-functional compound content, and improve safety. These attempts might improve the consumption of ginger as well as prospective applications of processed ginger for food, cosmetics, and the pharmaceutical industry, also as discussed in various patents.

scholarly journals The Impact of Supply Chain Management on Financial Performance and Responsibility Accounting Agribusiness Case from Egypt

2017 ◽  
Vol 6 (2) ◽  
pp. 136 ◽  
Author(s):  
Mohamed Ali Wahdan ◽  
Mohamed Ashraf Emam
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Financial Performance ◽  
Financial Statements ◽  
Net Income ◽  
Chain Management ◽  
Research Questions ◽  
The Cost ◽  
The Impact ◽  
Responsibility Accounting

This paper presents the impact of applying the supply chain management (SCM) on the agribusiness field to optimize productivity and decreasing cost which will have a direct impact on the net income of the organization. The main two research questions are: is there a significant impact of supply chain management on financial performance? and is there a significant relationship between supply chain management and financial performance as well as responsibility accounting? To answer the research questions, data was collected from financial statements of agribusiness case from Egypt and the survey was conducted. The findings of the study indicated that there is a significant impact of supply chain management on financial performance through enhancing the productivity, decreasing the cost and improving profitability. Moreover, applying the efficient supply chain management can improve the use of responsibility accounting through the efficient usage for the budget of the crop.

scholarly journals Strategic account management as a value co-creation selling model in the pharmaceutical industry

2017 ◽  
Vol 32 (2) ◽  
pp. 310-325 ◽  
Author(s):  
Francois Pilon ◽  
Elias Hadjielias
Keyword(s):  
Pharmaceutical Industry ◽  
Pharmaceutical Company ◽  
Value Added ◽  
Pharmaceutical Companies ◽  
Design Data ◽  
Content Type ◽  
Qualitative Research Design ◽  
Account Management ◽  
A Value ◽  
Key Accounts

Purpose This study aims to explore the dynamics enabling strategic account management (SAM) to function as a value co-creation selling model in the pharmaceutical industry. Design/methodology/approach Using an inductive qualitative research design, data are collected within 11 industry customers in Canada. This work focuses on hospitals as strategic accounts of pharmaceutical companies, exploring SAM value co-creation in the “hospital-pharmaceutical company” relationship. Findings The findings suggest the presence of two key dimensions that can enable a value co-creation SAM model in the hospital-pharmaceutical relationship: “customer-tailored value-added initiatives” and “relationship enhancers”. Customer-tailored value-added initiatives explain the activities that are central to the hospital-pharmaceutical company relationship and can lead to the provision of value added that is unique to the hospital. Relationship enhancers explain the activities that can help strengthen hospital-pharmaceutical company relations in the pursuit of enhanced value-added interactions between the two parties. The research demonstrates a cyclical relationship between “customer-tailored value-added initiatives” and “relationship enhancers”, leading to value co-creation through a SAM model. Practical implications The study informs pharmaceutical industry practitioners on how to improve their value proposition through new, more sustainable selling practices. It offers information on implementing a value co-creation SAM model, which can enable pharmaceutical companies to sustain long-lasting value-added relationships with key accounts such as hospitals. Originality/value The study contributes to the field of SAM by conceptualizing SAM as a value co-creation system. It introduces new knowledge in pharmaceutical marketing by offering empirical insight on the applicability and use of SAM in the hospital-pharmaceutical company dyad.

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