Word: moratorium
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Virginia's scenic, rolling Piedmont is rich in presidential history - Thomas Jefferson, James Madison and James Monroe all made their homes there. The land is also rich in uranium. But the state has had a moratorium on mining the nuclear fuel since 1982. Now, a group of landowners in rural Pittsylvania County is looking to make a fortune by digging up the ore, and, with talk of nuclear energy making a comeback following last summer's sky-high gas prices, the state is thinking about giving its blessing. The Virginia Commission on Coal and Energy is preparing to undertake...
...commissioner, an announcement that could come within days. Plus, some of DTC's most vocal critics in Congress aren't calling for an all-out advertising ban. For example, Democratic Representative Bart Stupak of Michigan, chairman of the House Energy and Commerce Subcommittee on Oversight and Investigations, wants a moratorium on DTC ads during a drug's first two years on the market. "Two years will give the FDA and doctors time to see what safety issues arise once a drug is approved," Stupak says. "It will also allow adequate time to educate doctors...
...true power player in the full House Energy and Commerce Committee, chairman Henry Waxman of California, differs from Stupak one key point. Yes, he also supports a two-year DTC moratorium for new drugs. "Americans must face an inconvenient truth about drug safety," he says. "The truth is that we inevitably allow drugs on the market whose risks are not fully known." Waxman, however, insists that the FDA should have the discretion to make exceptions to the moratorium. This policy follows a recommendation that the Institute of Medicine offered in a 2006 report, "The Future of Drug Safety." "It doesn...
Further, while a two-year delay wouldn't exactly help struggling media outlets desperate for ad revenue, it shouldn't put them out of business. Swallen figures that if the pharmaceutical moratorium were in place last year, magazines as a group would have lost roughly $210 million, or 0.8% of the approximately $25 billion in total ad revenue it took in for the year. And that's using a worst-case scenario in which the FDA kept all new drugs off the ad market for two years. Similarly, television outlets would have lost some $423 million...
Swallen notes that such losses would only last during the first two years of the ban. During that time, new drugs would still receive FDA approval, and consumer advertising could begin once the moratorium is over. "The line would be frozen behind the gate for two years," Swallen says. "But the number of brands waiting in line will grow, and there will be the same flow into the market once the gate reopens. It's a onetime deferral...