Pharmaceutical Industry Essay Example | Topics and Well Written Essays - 500 words

Pharmaceutical Industry - Essay Example This is to ensure the safety of administering a new drug to health volunteers and patients (Novartis 2004). Prior to the therapeutic trials in patients, which is the Phase 1 trials, the pharmaceutical company will need to have: the preclinical testing data and findings from the laboratory studies, the manufacturing information, clinical protocols and investigator information in the form of an Investigator's Brochure which will contain all the information about the study drug (MHRA 2006). This information will be required by the licensing authority, which in the UK is the Medicines and Healthcare products Regulatory Agency as part of the application for a Clinical Trials Authorisation which would enable a trial to be conducted in humans. In addition to this Authorisation, the pharmaceutical company will need to obtain a favourable ethical opinion and approval from the site where this drug will be tested. Once all required approvals are in place, the drug can be tested in a Phase 1 trial in healthy subjects. If the results of this trial are positive and no serious adverse events or suspected unexpected serious adverse events occur, then this progresses to a Phase 2 trial in subjects with the disease or medical condition. The key issues that

Brave New World - Technology :: Brave New World

Brave New World - Technology    Technology, what is it? It’s usually something new, and better than the old idea. Technology started with cars, stoves, TV, radios, etc. Cars takes somebody from one place to another, faster than walking, running, or biking and one could go places without getting tired. Stoves allowed one to conveniently be able to turn on and off heat to a cooking utensil with less clean up. The biggest contributor to making our lives easier would be computers, which has come a long way since its introduction to the world. Also, computers have the ability to be improved more, and more in time. In general, technology started off by comforting our lives. Now, the rapid growth of technology has replaced the need for one’s own intellect.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To begin with, technology makes us lazy. One no longer writes with pen and paper, or a typewriter, but with a computer program. The use of a computer program eliminates many things such as a rough draft. Because one can make mistakes, fix it without a mess, and then print a final copy, a rough copy is not made. It is also not needed according to these people, yet as many people know, spur of the moment thinking is not nearly as good as a well thought out plan. Therefore, a rough copy is much better to have, even though most people don’t make a rough copy because they’re too lazy. This lethargy is due to the advanced technology of computers. Also, almost all programs are equipped with a spell-check. Spell-check is, in other words, a dictionary without the definition. So, because of spell-check, one wouldn’t need to use the dictionary, or is it one would be too lazy to use the dictionary? The use of the internet is also used to cheat. People can look for something to plagiarize across the whole world in less than five minutes. These lazy people just cannot resist this temptation.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This leads me to my next point, with the use of technology, one no longer exercises their mind. Take the spell check for instance, since one has spell check, they don’t look up words in the dictionary. Spell check, though, doesn’t have definitions, and their might be some replacement words that don’t have the same meaning as the word in your sentence.

Lease versus Buy Essay

When an individual is trying to decide whether or not to lease or buy, he or she needs to know the purchase cost, the lease cost, as well as the interest rate of a loan that will be used to purchase the item. The residual value of the item also must be known up front to help determine if leasing is the better option. When determining whether to lease or buy, the cash flow for both should be compared so the best decision can be made. Below is a chart on lease vs buy. (www.smartcomputing.com; Retrieved November 6, 2006) Lease/Buy Cash Flow – Usually better from a short-term cash flow perspective. Frees up cash for other purposes while you generate income to pay the leases. You pay less overall but need to have available cash. Financing as an alternative costs more than a lease. Tax Treatment – If properly structured, a lease may give your company a larger expense write-off than a purchase. Consult your tax advisor. Depreciation write-off is based on IRS rules for the type of equipment that you are buying. Consult your tax advisor. Upgrades- Many lease companies let you upgrade to newer equipment during the term of the lease without renegotiating. If you need newer equipment, you are on your own. However, simple upgrades (RAM, hard drive, etc.) cost you only whatever the upgrade is. Equity- At the end of a lease, you don’t own the property, and you will need to replace it or buy it from the lease company.You own the equipment and can do with it whatever the needs of your business dictate. Disposal – The lessor is responsible for whatever it costs to dispose of the equipment. You are on to your next set of computers. You can use the equipment for a different purpose within your company, sell it, or pay someone to recycle it for you, but disposal is up to the owner of the equipment. The first scenario is an organization called Bonnesante Research based out of Irvine, California. Bonnesante is set up with Venture Capitalist (VC) Funding. Bonnesante major focus is asset acquisition, which is why the Chief Financial Officer has to weigh the pros and cons of leasing vs buying. Bonnesante’s is trying to determine if purchasing or leasing is the better option for a mainframe computer. I chose to lease the mainframe computer because the loan options have a higher outflow whereas the lease option of 18 months with no down payment has the lowest present value of cash outflows. Because the Mainframe would not be used through its entire economic life, it was better for the organization to lease the mainframe. If a loan was acquired to purchase the mainframe, the organization would have to record the purchase on the balance sheet and the depreciation and the interest payments would be recorded as expenses. If the organization was taxed then purchasing the mainframe would be beneficial because the depreciation and the interest payment would lower the outflows. In the second scenario Bonnesante Research is tasked with finding the best option to acquire a spectrometer. The options Bonnesante Research is faced with are: – Operating Lease – Capital Lease – Loan After evaluating all the information, buying the spectrometer would be the best option for Bonnesante. Buying the spectrometer is beneficial because it is considered to be a long term asset with no threat of becoming obsolete. The spectrometer can be used for its entire economic life. An operating lease would not be beneficial because an operating lease is considered when equipment is to be acquired on a short term basis. The capital lease was another option but was not chosen because the 60 month capital lease would have cost more in present value terms than what the loan amount would have  been to purchase the spectrometer. If the organization had cash flow issues, then the capital lease might have been a better option. Whether the company pursued a capital lease or received a loan to purchase the spectrometer, both options can be recorded on the balance sheet so the organization can reap the benefits of depreciation. The final scenario is Bonnesante Research has been in operation for 6 years and wants to acquire a manufacturing facility. Bonnesante Research already has a facility in mind but that facility will require an upgrade. Bonnesante Research has the options of a capital lease or Bonnesante can purchase the facility by obtaining a loan. Also, Bonnesante Research has to keep in mind the organization is having a cash flow crisis that needs to be resolved. The challenge Bonnesante was faced with was to acquire the facility at the lowest cost possible and to resolve the cash flow shortage. Although the buy option was more expensive than the lease option, it gave Bonnesante more flexibility to upgrade the facility and to carry out a sale and leaseback transaction. Due to the leaseback transaction, Bonnesante was able to resolve the cash flow crisis. The leaseback option was more beneficial to Bonnesante rather than the bridge loan. The bridge loan is a short-term loan with a higher interest rate compared to long term borrowing. A bridge loan would have been more costly to Bonnesante Research and the organization could not afford to go with this type of loan. A sale and leaseback is beneficial to any organization that has a cash flow shortage. Selling the asset can bring forth a large amount of cash and the organization can retain use of the asset by leasing it back hence the name sale and leaseback. The risks involved with lease vs buying depends on an organizations financial status. Whether or not an organization decides to lease or buy is determined by what option is more beneficial to the organization. An organizations attitude toward acquiring assets and financial strength all affect the decision on leasing vs buying. Whether an organization leases or buys, the organization needs to make sure the asset that is being acquired will add value to the organizations capital budget. â€Å"The advantage of computing present value considers all factors such as  inflation and forgone interest on money. That is, account must be taken of the fact that utilizing capital in ‘investing’ in equipment could result in the loss of income that would have been earned if it were invested elsewhere. To properly evaluate the alternative cash flows, it is necessary to discount them and express them in terms of their present values, to determine their net present values. In summary the Net Present Value calculation determines today’s value of future cash flows.† (www.pngbd.com Retrieved November 6, 2006). When determining when to lease vs buy, an organization should take into account the financial and non-financial issues. When considering the financial aspect, it should include the cost to acquire an asset; if there will be a tax advantage, cash flow, and the benefits to the organizations balance sheet. The non-financial issues that should be considered are asset-management and the cost to dispose of obsolete equipment. In conclusion, under certain circumstance leasing is the better way to go rather than purchasing a capital item outright and vice versa. By leasing, it gives an organization a way to acquire up-to-date equipment while maintaining cash flow. By maintaining cash flow through leasing, an organization can use the cash flow for more pertinent renovations such as office expansion or research and development. Leasing has less of an impact on an organizations budget whereas purchasing an item outright has more of an impact on an organizations budget. Overall, leasing is a way for an organization to recognize operational savings and production improvements in a timely manner. Reference: Smart Computing; Lease vs Buy; Executive Decisions; March 2004, Vol. 8 Issue 2 Page(s) 55-57. (www.smartcomputing.com) Papua New Guinea Business & Tourism; Making Capital Expenditure Decisions-Leasing vs Buying vs Borrowing; (www.pngbd.com Retrieved November 6, 2006).

Movie Analysis The Movie Polanski s - 1342 Words

Paying homage to late 1930’s Chinatown arises with its release in 1974. Now over 40 years later Chinatown is still considered one of the greatest movies of all time. And not all due to its box office effect on Paramount Pictures wallets. The film owes Roman Polanski for captivating the 40’s in a factual stance yet portraying a private eye in a distinctive approach. From how he uses lighting and camera angles to his single scene in the film Polanski just makes it all work. Success also due to Jack Nicholson as the main character, were he truly proves that acting is a form of art. The film Chinatown embodies neo-noir and is gives viewers and strong sense of intrigue. Using strong senses of historical accuracy with Polanski’s attention to†¦show more content†¦The San Fernando Valley is discovered by Jake to hide secrets of corruption, murder, and a suspicious drought. While nearing a conclusion to the murder case Jake is confronted with Mulwrays dark past, caused by her father, wealthy and corrupt politician Noah Cross. Which brings Jake to reopening the practically closed case. Who gives us Mulwrays daughter/sister who Jake advises she flees town. The case ends up leading Jake back to his past in China Town where he was a cop but left after failing to protect. History repeats itself for Jake when Mulwray and her daughter/sister are confronted by police and Cross ending in Mulwrays death. The 1970s brought women’s right, an antiwar movement and Nixon getting into trouble. The 1970s furthermore are the birth decade of Chinatown, but none of the 70’s can be seen in Chinatown because it’s set in the 30’s and doesn’t leave the 30’s for even a second. In today’s society we see droves of bloggers and YouTube personalities who dedicate time finding errors and incongruities in movies, even older movies. Thanks in part Roman Polanski, you will not see Chinatown on any blogs because the attention towards detail in this movie is nearly imperative to the script. Details that prove â€Å"Polanski totally controls the film. He is a master craftsman, meticulous and inventive, so careful and so in control that you have to admire his work as you would the product of a