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Government support for the development of Covid-19 vaccines took two different forms. Some firms accepted grants (a.k.a, direct monetary support) for vaccine development and testing. As a condition of the grant, the government has options to purchase a first and specific number of vaccine doses. Other firms chose not to accept grants. Instead they negotiated advanced-purchase agreement to support pre-approval manufacturing of vaccines. The purchase agreement stipulates that payment will be made upon delivery of the pre-specified number of doses.
Is the successful development and delivery of a vaccine for Covid-19 virus risky or an uncertainty?
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- Government support for the development of Covid-19 vaccines took two different forms. Some firms accepted grants (a.k.a, direct monetary support) for vaccine development and testing. As a condition of the grant, the government has options to purchase a first and specific number of vaccine doses. Other firms chose not to accept grants. Instead they negotiated advanced-purchase agreement to support pre-approval manufacturing of vaccines. The purchase agreement stipulates that payment will be made upon delivery of the pre-specified number of doses. 1. Is the successful development and delivery of a vaccine for Covid-19 virus risky or an uncertainty? 2. In the case of direct support agreements, who bears the cost of failure? 3. In the case of advanced purchase agreements, who bears the cost of a failure? 4. Pfizer was the first firm to have its vaccine authorized for use in the U.S. It did not accept a grant to support development and testing, but the Pfizer did negotiate an…Analyse TWO measures that have been taken by the Government of Malaysia to support the affected economic sectors due to the pandemic.Provide the demand and supply analysis of Covid-19 vaccines for Developed countries
- international trade and finance in malaysia have been effected by corona-virus pandemic . (discuss)You have been recruited as an expert in health economics to recommend what is the best therapy for a group of patients. In the image below you will find the decision tree showing the probabilities for different health states and outcomes for patients undergoing two possible treatments, No drug therapy and Drug therapy. Based on the expected cost, which therapy would you recommend as the least expensive? Explain how you arrived at your recommendation and show your calculations the space provided. No drug theraphy ? Drug theraphy ? HEALTH STATES PROBABILITIES Remain in Good Health 0.5 Develop disease A 0.2 Develop disease B 0.2 Die 0.1 Remain in Good Health 0.53 Develop disease A 0.16 Develop disease B 0.22 Die 0.09 OUTCOMES (Costs) $0 $400 $300 $200 SO $800 $500 $0Suppose a company has invented and patented a new effective drug to treat hay fever. The marginal cost of producing the drug is: MC = $4 . Without being covered in any insurance plan, the market demand is as follows: Qd = 800 -40P a. Suppose the drug is covered by a public health insurance plan with a co-insurance rate of 25% and everyone is eligible. What is the market demand under this insurance policy? What price should the company charge and what is the equilibrium quantity? a. Suppose now the public health insurer introduces the payment limit of $7.5 per unit of the drug; that is, the co-insurance rate of 25% applies if P less than or equal 10 (P<= 10), but the insurance only pays $7.5 per unit if P is greater than 10 P>10). Derive the new market demand. Under this new market demand, what price should the firm charge? Justify your answer.
- The ongoing COVID-19 pandemic has disrupted both the education and health system in most, if not all, nations in the world. The scarring effects of the pandemic are predicted to be long-lasting, some of which are the fear of learning-loss and lower future earnings for the current students. Provide evidence(s) that support and/or contradict this statement! If such scarring is expected to occur, would the scarring effects would be worse for the developing countries than the developed ones, and whether the effects would be worse for certain groups such as the poor, women, children, etc.!Evaluate the impact of COVID-19 pandemic on the performance of UK supermarkets. Performance should focus on the effects on price, demand and profits.The Orphan Drug Act of 1983 provides tax incentives, patent protection, and research subsidies to firms for drugs, vaccines, and diagnostic agents if they are intended to treat a disease that affects less than 200,000 citizens. Explain how the Orphan Drug Act would affect drug development. Can you think of any tradeoffs from the act?
- Consider two treatments. Treatment 1 saves one year of life at a cost of $10,000. Treatment 2 saves ten years of life at a cost of $1,000,000. Which treatment is more cost-effective? Why?In some countries, such as Canada and UK, direct-to-consumer (DTC) advertising for pharmaceutical products is illegal or tightly controlled. Which of the following is NOT a reason why DTC is tightly controlled? Question 7 options: Asymmetric information: consumers are not in a good position to determine if a drug is what they need. DTC makes patients aware of new remedies. DTC can put a strain on doctor-patient relationship when patients demand some drugs that are not necessary or not the best options. DTC have the potential to drive up spending on drugs and exacerbate moral hazard.Price controls decrease the innovation rate for drugs but make existing drugs more affordable. True False