4 drug makers move to settle in pricing suit
Article Abstract:
Abbott Laboratories, Pharmacia, Rhone-Poulenc Rorer and Upjohn Inc. will settle a class-action price-fixing lawsuit with an agreement to pay $345 million to 40,000 retail pharmacies. The 4 large drug makers had been accused by the pharmacies of conspiring to create a two-tiered pricing system during the early 1990s. The proposed settlement would be included in a larger agreement of about $700 million in which price-fixing claims against 11 pharmaceutical companies were settled two years ago for $351 million.
Comment:
Will settle, with 3 other drug makers, class-action price-fixing lawsuit by paying $345 mil to 40,000 retail pharmacies
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Old drugs, new labels
Article Abstract:
Companies that sell mainly generic drugs have difficulty in making their products visible in the marketplace as they are faced with a glut of players in too many areas of the pharmaceutical business. These firms can only distinguish themselves from others by offering lower prices. However, they are beginning to use their own brand names in place of the dull scientific labels on their drugs. The higher profiles allow the companies to increase their prices.
Comment:
Cos that sell generic pharmaceuticals are using their own brand names in place of scientific labels to sell their products
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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American Home Products buying Monsanto for $34.4 billion
Article Abstract:
American Home Products Corporation said that it would purchase the Monsanto Company for stock worth $34.4 billion. The acquisition is the largest ever in the history of the pharmaceutical industry. The merged entity will become the top seller of prescription drugs in the US. It will also become a global leader in insecticides and other agricultural goods. American Home had been expected to sell of its agricultural business.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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