Economic issues prescribing

Smith, Mickey C., ed. Studies in Pharmaceutical Economics. New York Haworth Press, 1996. Although a bit dated, the issues addressed here generally apply today. For example, chapters on Medicaid drug cost containment, insurance coverage and physician prescribing, and the economics of prescription drug advertising continue to have relevance. The technical nature of the material makes it of most interests to scholars and academics, however. 

Directives are issued by the European Commission and the Council, and are binding as to their objectives and results. MS are obligated to transpose Directives into national law, with prescribed timelines for doing so. In the case of medicines regulation, this happens not only in the 25 countries of the EU but also, on a voluntary basis, in the additional countries of the European economic area (EEA) (Norway, Liechtenstein and Iceland) and even, to some extent, in Switzerland. 

The use of a trust structure in a Eurobond issuance can minimise significantly the need to consult bondholders on certain document modifications. The issuer and trustee typically craft the trust deed to empower the trustee to exercise discretion on behalf of all bondholders within specified parameters. Under current market standards, the trustee is normally permitted to agree to nonmaterial modifications of the terms of a Eurobond issuance and exercise very specific powers, such as the power to appoint or approve replacement agents within defined circumstances and criteria, without consultation of the bondholders. The ability of the trustee to agree to nonmaterial term modifications and exercise certain prescribed powers without consultation of bondholders benefits all parties to the deal both practically and economically because expensive and time consuming bondholders meetings are not necessary to deal with such issues. 

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