An orally available, small-molecule interferon inhibits viral replication

Most acute hepatitis C virus (HCV) infections become chronic and some progress to liver cirrhosis or hepatocellular carcinoma. Standard therapy involves an interferon (IFN)-α-based regimen, and efficacy of therapy has been significantly improved by the development of protease inhibitors. However, several issues remain concerning the injectable form and the side effects of IFN. Here, we report an orally available, small-molecule type I IFN receptor agonist that directly transduces the IFN signal cascade and stimulates antiviral gene expression. Like type I IFN, the small-molecule compound induces IFN-stimulated gene (ISG) expression for antiviral activity in vitro and in vivo in mice, and the ISG induction mechanism is attributed to a direct interaction between the compound and IFN-α receptor 2, a key molecule of IFN-signaling on the cell surface. Our study highlights the importance of an orally active IFN-like agent, both as a therapy for antiviral infections and as a potential IFN substitute

International Diversity in Measuring the Fair Value of Life Insurance Contracts*

This paper discusses international diversity in accounting for insurance contracts as reported under various Generally Accepted Accounting Principles (GAAPs) in Australia, Canada, the U.K. and the U.S.A. Relative to statutory-based accounting principles, existing GAAPs allow insurance firms to match income to expenses over the term of an insurance contract in order to provide a more “realistic” basis for reporting to shareholders. However, those GAAPs do not employ a coherent and consistent view of how to measure the fair value of a life insurance firm's business. The International Accounting Standards Board (IASB) has tentatively concluded that fair value should be used in accounting for insurance contracts. This paper discusses how existing GAAPs differ from fair values and simulates their impact on the profits emerging on a simple endowment policy. We also consider Solvency II as providing a broader conceptual fair value-based framework within which additional risk-related disclosures can address currently unresolved conceptual and practical problems in implementing fair value for insurance contracts and related financial instruments. These recommendations are likely to bear upon current deliberations by the IASB on financial instruments and life insurance accounting. The Geneva Papers (2009) 34, 197–227. doi:10.1057/gpp.2009.7