For this case study assignment, perform the following tasks:
1.Select an American company with a worldwide presence (examples: Starbucks, McDonald’s, Walmart).
2.Do research on the worldwide economic crisis of 2008 and, in particular, focus on the company you selected.
3.Discuss how your chosen company faired in the economic crisis of 2008.
4.Discuss the microeconomic implications of the crisis on your company.
5.Discuss whether your company was immune or not immune to the crisis.
6.Discuss the performance after the crisis and the implications for the future.
Kingdom utilized the single-payer system to implement universal coverage for drugs; therefore, costs are negotiated down to what is deemed appropriate and feasible. Similar to the FDA, the European Commision approves drugs but what makes their system different is that they have a separate body called the National Institute for Health and Social Care Excellence (NICE) who is responsible for determining a drug’s cost effectiveness and clinical benefits(Nawrat). Canada also utilizes a single-payer system for healthcare is therefore in control of the country’s drug prices (Amadeo). Canada established a Patented Medicine Prices Review Board that encourages pharmaceutical companies to suggest a price proposal for their manufactured drugs. This review board then compares the suggested price to various other countries with similar drugs. Approval is made depending on the cost of the drugs in other countries. Despite Canada’s single payer system, the country lacks universal drug coverage but due to their current system, the costs of prescription drugs in Canada remain cheaper than the cost in the United States (Morgan et al). In addition, Spain is another country that continuously aims to lower drug prices by utilizing reference pricing. Reference pricing is a system in which similar of identical drugs are categorized into a class. This allows for the insurer to pay one price for any of the drugs included within the given class. However, a pharmaceutical companies in Spain have the option of increasing drug costs thus requiring individuals to pay the difference between insurer costs and pharmaceutical company demands. Despite this, Spain has found that reference pricing often forces pharmaceutical companies to lower prices in order to maintain consumer business. Reference pricing has greatly assisted with cost-effectiveness by selling normally high-priced drugs at a reduced price (Frakt). Constructing alternatives>GET ANSWER