Word: researcher
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Dates: during 1950-1959
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Piel was right, but his theory was four years in the proof. To stay abreast of fast-breaking scientific research, he commissioned authoritative reports from men at the frontiers of discovery: Physicist I. I. Rabi, Geneticist George W. Beadle, the late Dr. Albert Einstein and 15 other Nobel prizewinners. The magazine was redesigned to offer a rich reading diet of articles on all the leading science disciplines: the physical, social, technical, medical and life sciences. Scientific American blossomed with graphic color so compelling that a portfolio of illustrations has sold more than 7,000 copies...
...basic cortisone, is marketed by Schering under the trade name Meticortelone. Schering cross-licensed other companies to make it and bought a lot of it from Upjohn Co., at $1.19 per hundred tablets. But this price, argued Brown, did not take into account the costs for research, administration, taxes, selling and distribution. By Schering's figuring, said Brown, the 100 tablets cost $12.30. It offered the tablets to druggists at $17.90 with a suggested consumer's price...
Three Classes. Drug firms, said Connor, fall into three classes: 1) "creators"; 2) "molecule manipulators" who change basic drugs around but seldom score "home runs"; and 3) "coattail riders." who do no research, wait for a market to develop, then jump...
Upjohn's Dr. E. Gifford Upjohn conceded that the race of drug companies to keep up causes his firm, in line with others, to spend 28.6% of its budget on 1,000 salesmen (out of 5,700 employees), plus other promotional activity. Research costs: 9%. Despite the high overhead, the companies are immensely profitable. The Kefauver subcommittee presented tables showing that the drug companies averaged profits of 21.4% of their net worth, compared with 11% for all U.S. industry. Part of the answer, said the subcommittee, was the pricing policy...
...executive meetings (with prepared agenda to save time). Shortly after he took over, he decided that packaging was undergoing a major shift from cans to other materials, acquired more than a dozen firms in glass, plastic and paper products to protect Continental's flank. He spent heavily on research to develop new products, e.g., plastic bottles. The Government has not always approved, filed an antitrust suit to force him to get rid of a glass-jar company...