Hand drug pharmaceutical health Colin Campbell/Flickr

回购还是为未来出资

伦敦—英国首相卡梅伦要我担任抗耐药性问题评估的主管,当时我最没有想到的是这一职位会让我质疑公司财务管理最常用的工具之一:股票回购。

抗耐药性问题是一个严重的问题。如果不解决,到2050年每年都将有1,000万人因此死去,比目前癌症死亡人数还要多,经济损失更是高达100万亿美元。但是,幸运的是,我们可以做很多事情减轻这一威胁——只要我们可以获得足够的资源。

实现这一点的一个重要途径是开发新药。在一篇即将发表的文章中,抗耐药性评估(Review on Antimicrobial Resistance)估计,实现新抗生素上市并改善它们的管理需要耗资大约250亿美元——一笔巨款,但和问题得不到解决所引起的社会成本相比只是九牛一毛。而这也是世界最大的两家制药公司今年用于回购本公司股票的金额。

To continue reading, please log in or enter your email address.

Registration is quick and easy and requires only your email address. If you already have an account with us, please log in. Or subscribe now for unlimited access.

required

Log in

http://prosyn.org/8s7MpZV/zh;
  1. China corruption Isaac Lawrence/Getty Images

    The Next Battle in China’s War on Corruption

    • Chinese President Xi Jinping knows well the threat that corruption poses to the authority of the Communist Party of China and the state it controls. 
    • But moving beyond Xi's anti-corruption purge to build robust and lasting anti-graft institutions will not be easy, owing to enduring opportunities for bureaucratic capture.
  2. Italy unemployed demonstration SalvatoreEsposito/Barcroftimages / Barcroft Media via Getty Images

    Putting Europe’s Long-Term Unemployed Back to Work

    Across the European Union, millions of people who are willing and able to work have been unemployed for a year or longer, at great cost to social cohesion and political stability. If the EU is serious about stopping the rise of populism, it will need to do more to ensure that labor markets are working for everyone.

  3. Latin America market Federico Parra/Getty Images

    A Belt and Road for the Americas?

    In a time of global uncertainty, a vision of “made in the Americas” prosperity provides a unifying agenda for the continent. If implemented, the US could reassert its historical leadership among a group of countries that share its fundamental values, as well as an interest in inclusive economic growth and rising living standards.

  4. Startup office Mladlen Antonov/Getty Images

    How Best to Promote Research and Development

    Clearly, there is something appealing about a start-up-based innovation strategy: it feels democratic, accessible, and so California. But it is definitely not the only way to boost research and development, or even the main way, and it is certainly not the way most major innovations in the US came about during the twentieth century.

  5. Trump Trade speech Bill Pugliano/Getty Images .

    Preparing for the Trump Trade Wars

    In the first 11 months of his presidency, Donald Trump has failed to back up his words – or tweets – with action on a variety of fronts. But the rest of the world's governments, and particularly those in Asia and Europe, would be mistaken to assume that he won't follow through on his promised "America First" trade agenda.