Word: squibb
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...group boasts a membership that includes 50 of the nation's largest patient-advocacy groups, including the American Cancer Society, Easter Seals and the National Kidney Foundation. But its board of directors reads like a Who's Who of top pharmaceutical executives from Amgen, Pfizer, Novartis and Bristol Myers Squibb. Its 2007 tax filings show that almost half its $2.3 million budget came from PhRMA and drug companies...
...There are better ways for Harvard to work with industry. Yale made headlines in 2001 when it partnered with Bristol-Myers Squibb to jointly announce that they would permit the sale of low-priced generic drugs in South Africa, which led to a 96-percent reduction in the price of one first-line HIV treatment. More recently, the University of British Columbia has formalized a policy that will incorporate global access wherever possible into agreements with industry. These licensing policies for global access cost a negligible amount because markets in developing countries generate so little revenue. The benefits of these...
Lastly, Jason Smith, who, while serving as a federal grand juror in New Jersey in October 2003, provided information about an investigation of the Bristol-Myers Squibb Company...
Most of the corporations located in Zug engage in extensive trade and currency transactions in the commodities, financial and pharmaceutical sectors. Many are subsidiaries of firms headquartered elsewhere, including such big U.S. names as Abbott Laboratories, American Home Products, Bristol-Myers Squibb, Kellogg and PerkinElmer. These firms, and others from around the world, have no trouble getting executives to transfer to Zug, or to visit. The town offers both "tax advantages and a great quality of life," says Andreas Emmenegger, CFO of Fantastic, a software company with offices in Framingham, Mass., New York City, San Francisco, Atlanta and Dallas...
Novartis, which operates in 140 countries, last year booked sales of $19 billion, up 10% from 2000. While such competitors as GlaxoSmithKline, Merck and Bristol-Myers Squibb are entering a period of declining revenue growth as patents on their major drugs expire, Novartis is poised for several years of steady double-digit expansion. This year its shares in the U.S. are up about 10%--the best performance among major drug companies--even as the Morgan Stanley Capital USA Health Care Index, a basket of big drug stocks, has fallen about 25%. Novartis is the 17th most valuable company...