New profits in old bottles; companies find bonus in drugs that cure several ills
Article Abstract:
The FDA has made it easier for a drug company to promote a medication for a second ailment through physicians as long as they don't put the new 'indication' on the label. For example, Monsanto Co. had approval to market Celebrex for arthritis pain, but it can also treat Alzheimer's and colon cancer. Glaxo Wellcome calls its antidepressant Wellbutrin; the same compound is called Zyban when used as a smoking cessation drug. To be able to do this saves the drug companies as much as $250 million in R&D costs.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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SmithKline to sell off units for $1.97 billion
Article Abstract:
SmithKline Beecham PLC announced a move to get the company back in focus on its pharmaceuticals and consumer products: sell off two units and cut jobs by 3,000 people worldwide. The moves will occur over a four-year span. The firm will sell its clinical laboratories unit to Quest Diagnostics for about $1 billion. It will sell its pharmacy benefits management unit, at a loss, to Express Scripts Inc. for $700 million.
Comment:
Will buy SmithKline's pharm. benes. mgmt. unit for $700 million
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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