IMPORTANCE Understanding the profitability of pharmaceutical companies is essential to formulating evidence-based policies to reduce drug costs while maintaining the industry's ability to innovate and provide essential medicines. OBJECTIVE To compare the profitability of large pharmaceutical companies with other large companies. DESIGN, SETTING, AND PARTICIPANTS This cross-sectional study compared the annual profits of 35 large pharmaceutical companies with 357 companies in the S&P 500 Index from 2000 to 2018 using information from annual financial reports. A statistically significant differential profit margin favoring pharmaceutical companies was evidence of greater profitability. EXPOSURES Large pharmaceutical vs nonpharmaceutical companies. MAIN OUTCOMES AND MEASURES The main outcomes were revenue and 3 measures of annual profit: gross profit (revenue minus the cost of goods sold); earnings before interest, taxes, depreciation, and amortization (EBITDA; pretax profit from core business activities); and net income, also referred to as earnings (difference between all revenues and expenses). Profit measures are described as cumulative for all companies from 2000 to 2018 or annual profit as a fraction of revenue (margin).
(Abstracted from JAMA 2020;323(9):834–843) Virtually all of the US Food and Drug Administration–approved medications in the United States were developed by for-profit companies, thus demonstrating the importance of these corporations in providing medicine to the public. Understanding both drug costs and company profits is vital to creating evidence-based policies that balance the cost of medicine with the industry's ability to innovate.
Recent trends in the United States show a downturn in new entrants to the accounting profession, with demand for new graduates exceeding the supply. Attracting and retaining entrants to the accounting profession is necessary to address this shortage. We investigate how perceptions of belonging and stereotype threat, defined as the concern about being negatively stereotyped about social identity, influence accounting students’ commitment to the profession. Results show that belonging perceptions are lower for students who experience stereotype threat. Further, the negative relationship between stereotype threat and professional commitment is mediated by perceptions of belonging. Our findings inform educators seeking to increase students’ commitment to the accounting profession about the important influence of stereotype threat. Our results also inform those interested in the belonging perceptions of students who may experience heightened stereotype threat concerns, such as those identifying with historically underrepresented social groups. Data Availability: Data are available from the authors upon request.
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