Empirical study on pharmaceutical economic and investment in research and development based on correlation analysis

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1 Avalable ole Joural of Chemcal ad Pharmaceutcal Research, 24, 6(4): Research Artcle ISSN : CODEN(USA) : JCPRC5 Emprcal study o pharmaceutcal ecoomc ad vestmet research ad developmet based o correlato aalyss Su Xaojua ad 2 Ga Huaqg Xa Me Uversty of Techology of Cha, Xame, Cha 2 Northeast Agrculture Uversty, Harb, Cha ABSTRACT The pharmaceutcal dustry has developed wdely recet years. Ad the relatoshp betwee the ecoomc pharmaceutcal dustry ad the vestmet research ad developmet sychrozato has bee cocered. The applcato of correlato aalyss o t s studed depth. Frst, relatg researches o vestmet research ad developmet of pharmaceutcal dustry are summarzed. Secod, basc theory of correlato aalyss s studed. Thrd, aalyss o curret stuato of ecoomc pharmaceutcal dustry ad the vestmet research ad developmet sychrozato are carred out. Fally, edogeous wavelegth ad frequecy measuremet for ecoomc pharmaceutcal dustry ad the vestmet research ad developmet sychrozato are calculated, results show that the ecoomc pharmaceutcal dustry ad the vestmet research ad developmet sychrozato s hghly cosstet. Keywords: correlato aalyss; Pharmaceutcal Ecoomc; Ivestmet Research ad Developmet; edogeous INTRODUCTION The pharmaceutcal dustry started farly later Cha comparg wth foreg coutres. However, the pharmaceutcal dustry developed quckly wth support of a seres of dustral polcy, ad the gap betwee the Cha ad foreg coutres pharmaceutcal dustry s arrowed. The pharmaceutcal ecoomc s closely related to research ad developmet of pharmaceutcal dustry. Pharmaceutcal maufacturg eterprses ca develop the patet medce wth sales reveue through vestg hgh captal o research ad developmet, ad the moopoly profts ca be obtaed. The retured moey ca be jected to research ad developmet of ew pharmaceutcal techology. I recet years, some pharmaceutcal compaes have realzed the mportace of vestmet research ad developmet. The ecoomc results of vestmet research ad developmet are the most cocer whe the pharmaceutcal compaes make research ad developmet vestmet decso. Therefore t s ecessary to aalyze the relatoshp betwee vestmet research ad developmet ad pharmaceutcal ecoomc. I order to mprove the effectveess of aalyss, the correlato aalyss method s appled ths research. I recet years, the researches o ecoomc cycle have bee cocered by may scetsts, ad some achevemets have bee obtaed so far. SM Paul et al. put forward the key to tacklg the challeges such ssues pose to both the future vablty of the pharmaceutcal dustry ad advaces healthcare was to substatally crease the umber ad qualty of ovatve, cost-effectve ew medces, wthout currg usustaable R&D costs. They preseted a detaled aalyss based o comprehesve, recet, dustry-wde data to detfy the relatve cotrbutos of each of the steps the drug dscovery ad developmet process to overall R&D productvty []. AM McGaha tested the hypothess that creased patet protecto results greater drug developmet effort. We fd that patet protecto wealthy coutres s assocated wth creases R&D effort; results showed that the 67

2 Su Xaojua ad Ga Huaqg J. Chem. Pharm. Res., 24, 6(4): troducto of patets developg coutres had ot bee followed by greater R&D vestmet the dseases that are most prevalet there [2]. Ncola Dmtr suggested that R&D productvty the pharmaceutcal dustry could be stregtheed by reducg costs both the early phase ad, mostly, the clcal phase of drug dscovery. Ad aalyss revealed that despte hgh costs, the clcal phase shows healthy productvty, whereas the early phase, partcularly lead optmzato, exhbted very low productvty [3]. S Sasdhara appled ubalaced pael data for,843 Ida maufacturg frms operatg durg the perod ad corrected for the self-selecto problem by usg a Heckma-two step procedure. The aalyss volvg full sample dd ot gve a clear pcture of the mpact of FDI o the ovato strateges of domestc frms. Iterestg results emerge, whe aalyss was carred out accordg to dfferet sub-samples based o foreg-owershp ad techology testy of the dustry [4]. Jgguo Qu et al. studed the jot fluece of the curve radus of curvature, steered agle ad the road frcto coeffcet o the drvg speed of the curve ad the obtaed speed s wth the speed lmt. Therefore, after mprovg the overtakg model, the left lae vehcle also appled to the lae-chagg rule [5]. So far the emprcal study o ecoomc cycle of malad cha ad Tawa s a ew feld wth few academc achevemets. 2 Mathematcal model of correlato aalyss The correlato aalyss ca study the relevace betwee some varables ad other varables, whch ca solve the practcal problems of ecoomc cycle. Set x ad y as the p ad q dmesoal radom varables ad covarace matrx betwee x ad y s expressed as follows [6]: E x E( x))( y))' ( () V XY ' V YX V XY (2) The varaces of x ad y are defed as follows [7]: V y) E( y)( y))' ( (3) V x) E( x E( x)( x E( x))' V YY ( (4) V XX The projecto lear sub space of y x s cosdered, for a elemet statstc, the radom varables z ad, x, 2 L x p are gve, f a + x, a + a x a x make ( z a a x ) s the projecto of z p E reach the mmum value, the x, x, 2 L, x, whch ca be deoted by ẑ, or zˆ a + a x ames as regresso fucto for secod type regresso problem, therefore ŷ for y of y ca be solved based o oe statcs method, ŷ usg ŷ as compoet ca be the projecto of y o x. Projecto of ŷ to x for y s defed by P ˆ( y x), y yˆ s resdual. There are parts affectg the chages of y, frst part s the projecto of y o x, that s V (yˆ ), secod part s the chages led by y yˆ, that s V ( y yˆ ). The correlatg coeffcet betwee x ad y ca be calculated by the followg expresso: 2 r [ ( x X )( y Y )]/ [ ( x X ) ( y Y ) ] (5) Where X ad Y are the mea value of x ad y, x ad y are the observatos of x ad y. 67

3 Su Xaojua ad Ga Huaqg J. Chem. Pharm. Res., 24, 6(4): Aalyss o characterstc of pharmaceutcal ecoomc ad vestmet research ad developmet () Growth of pharmaceutcal ecoomc Before 29, the total output of pharmaceutcal dustry mataed rapd growth, ad the compoud aual growth rate s 2.8%. The "facal tsuam" ht the pharmaceutcal ecoomc 29, the creasg rate of total output of pharmaceutcal dustry drops to 9.9%. Sce 2, wth the world ecoomy better shape, the pharmaceutcal dustry creases the speed of 27.48%, whch matas a steady growth tred. The total output of pharmaceutcal dustry from 2-23 s show table. Table Total output of pharmaceutcal dustry from 2-23 Year Total output/ Bllo yua Growth rate/% As from table, from 2-23, the total output of pharmaceutcal dustry creasg every year, the output of pharmaceutcal dustry 23 s.6 tmes to that of pharmaceutcal dustry 2. Ad the creasg rate of pharmaceutcal dustry s slowed dow from 2 to 22, from 22 to 23, from 25 to 26, from 28 to 29, from 2 to 22. (2) Ivestmet research ad developmet of pharmaceutcal dustry The vestmet research ad developmet of pharmaceutcal dustry s mportat for developmet of t, the total vestmet research ad developmet of pharmaceutcal dustry from 2-23 s show table 2. Table 2 Total vestmet research ad developmet of pharmaceutcal dustry from 2-23 Year Ivestmet/ Bllo yua Icreasg rate/% As see from table 2, the vestmet research ad developmet of pharmaceutcal dustry creases every year from 2-23, but the creasg rate s slow dow. Ad the correlato coeffcets betwee output ad vestmet research ad developmet of pharmaceutcal dustry are calculated based o relatg theory, whch are show table 2. Table 3 Calculatg results of correlato coeffcets betwee output ad vestmet research ad developmet of pharmaceutcal dustry Perod Correlato coeffcet

4 Su Xaojua ad Ga Huaqg J. Chem. Pharm. Res., 24, 6(4): As see from table, sce 996, the correlato coeffcets of 2-23, 24-26, ad 2-23 are.43,.53,.63 ad.7 respectvely. The ma reaso s that the Chese pharmaceutcal compaes have a strog research ad developmet ethos, however there are a certa dfferece betwee the Chese compaes ad multatoal pharmaceutcal compaes scale, sales volume ad proft, the the vestmet of pharmaceutcal dustry s relatve lttle. RESULTS AND DISCUSSION () Defto of dexes Idepedet varables are performace dex: the performace of pharmaceutcal compaes ca be measured by proftablty dex, effcecy dex ad growth dex. The proftablty dex s proft marg of ma busess, whch s the rato of proft to come of ma busess. The effcecy dex s captal et proft rato, whch s the rato of et proft to average total captal. The growth dex s measured by the year-o-year come of ma busess. The depedet varable s used as vestmet research ad developmet, the vestg level research ad developmet s measured by pockets ad huma resources. The dex of pockets s research ad developmet stregth s the rato of captal vestmet research ad developmet to come of ma busess. The rate of techcas s rato of the umber of techcas to total umber of employees. The relatg data s collected from the pharmaceutcal compay by had. The total umber of samples of pharmaceutcal compaes s 32, ad the research ad developmet stregth of samples are show table 3. Table 3 Research ad developmet stregth of samples Research ad developmet stregth Number of samples <% 23 [%,2%) 58 [2%,3%) 2 [3%,4%) [4%,5%) 6 >5% 4 As see from table 3, there are 32 pharmaceutcal compaes wth research ad developmet stregth of less tha %, there are oly 4 pharmaceutcal compaes wth research ad developmet stregth of over 5%, the data shows that the research ad developmet stregth of pharmaceutcal compaes s relatve low. The creasg rate of pharmaceutcal ecoomc of samples perod of 2-23 s defed by to correlato aalyss, the regresso fucto s obtaed as follows: IFP, accordg IFP (6).79 IFP +.42IFP 2.237IFP IFP 4 The the followg regresso matrx ca be obtaed as follows:.79 A The egevalues of A are ,.8445, ad respectvely, the edogeous wavelegth ca be calculated accordg to the cojugate complex roots, whch s 5.8 years, ad the frequecy s.8. The research ad developmet stregth of samples perod of 2-23 s defed by RDS, accordg to correlato aalyss, the regresso fucto s obtaed as follows: 673

5 Su Xaojua ad Ga Huaqg J. Chem. Pharm. Res., 24, 6(4): RDS (7).73 RDS +.2RDS 2.265RDS RDS 4.73 A The egevalues of A are ,.6997, , respectvely, the edogeous wavelegth ca be calculated accordg to the cojugate complex roots, whch s 5.9 years, ad the frequecy s.9. As see from the calculatg results, the edogeous wavelegth ad frequecy of creasg rate of pharmaceutcal ecoomc ad research ad developmet stregth are hghly cosstet. The the lag coeffcet, egevalue, edogeous wavelegth ad frequecy for creasg rate of pharmaceutcal ecoomc ad research ad developmet stregth from 2 to 23 are calculated based o correlato aalyss, the correspodg calculatg results are show table 6. Table 6 Calculatg results of edogeous wavelegth ad frequecy of pharmaceutcal ecoomc ad research ad developmet stregth tem egevalue edogeous wavelegth frequecy pharmaceutcal ecoomc research ad developmet stregth pharmaceutcal ecoomc research ad developmet stregth pharmaceutcal ecoomc research ad developmet stregth proftablty effcecy As see from table 6, the edogeous wavelegth ad frequecy of pharmaceutcal ecoomc ad research ad developmet stregth has small dfferece, they are also hghly cosstet. These results show that the pharmaceutcal ecoomc ad research ad developmet stregth have the sgfcat sychrozato from CONCLUSION Accordg to the results of regresso aalyss, the vestmet research ad developmet of pharmaceutcal dustry has postve effect o the pharmaceutcal ecoomc. The vestmet research ad developmet ca be beeft for the developmet of ew pharmaceutcal products, ad the come of pharmaceutcal compay get more come. The pharmaceutcal compay must mprove the vestmet research ad developmet, ad optmze the allocato of research ad developmet resources, the total output of pharmaceutcal dustry ca be mproved costatly. REFERENCES [] SM Paul; DS Mytelka; CT Duwdde, Nature Revews Drug Dscovery, 2, 9(3), [2] AM McGaha, The Revew of Ecoomcs ad Statstcs, 22, 94(4), [3] Ncola Dmtr, Treds Pharmacologcal Sceces, 2, 32(2), [4] S Sasdhara, World Developmet, 2, 39(7), [5] JG Qu; YH Cu; GC Zhou. Joural of Chemcal ad Pharmaceutcal Research, 24, 6(3), [6] C Laur, G Lubke, Multvarate Behavoral Research, 23, 48(), 65. [7] DG Wester, LP Kettergham, SA Neld. Bosystems & Borobotcs, 23, (),

Journal of Chemical and Pharmaceutical Research, 2014, 6(7): Research Article

Journal of Chemical and Pharmaceutical Research, 2014, 6(7): Research Article Avalable ole www.jocpr.com Joural of Chemcal ad Pharmaceutcal Research, 04, 6(7):4-47 Research Artcle ISSN : 0975-7384 CODEN(USA) : JCPRC5 Predcto of CNG automoble owershp by usg the combed model Ku Huag,