Word: squibb
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Spencer Neumann's recovery of a squibb kick which struck Kayode Owens on the ankle prevented the Big Red from taking over at mid-field. Lazarre-White continued to run the option successfully, helping the drive down to the Cornell 14-yard line. A third-down reception by Colby Maher kept the drive alive, and Matt Johnson's 11-yard run set the Crimson up in scoring position at the 13-yard line...
Last week a report from Bristol-Myers Squibb, the manufacturers of DDI, suggested that the skeptics may have been right. The report disclosed that of 8,000 patients who had been taking DDI for seven months under the FDA's "expanded access" program, 290 died. That was ten times the death rate found in Bristol-Myers' own controlled clinical trial, in which 700 patients have received DDI. The report raised concerns not only about the safety of the drug but also about the FDA's new liberalization program...
Major pharmaceutical firms like Merck & Co. of Rahway, N.J., and Bristol- Myers Squibb of New York City are keeping a low profile in the pricing debate. The corporate rebuttal is that drug firms are honestly struggling to contain their spiraling costs and turn a profit in a formidably complex and competitive industry. Research and development costs, the key to corporate success in the drug industry, have lofted from an average of $55 million for each new medication in the 1970s to $125 million today. Regulatory agencies like the U.S. Food and Drug Administration can take up to seven years...
...boasted its share of non-U.S. giants, such as Switzerland's Ciba-Geigy and West Germany's Bayer AG, American firms average 40% of their sales outside the country. This year's three biggest drug-company mergers all involved U.S. companies. Bristol-Myers (1988 sales: $6 billion) joined Squibb of Princeton, N.J. ($2.6 billion); Philadelphia's SmithKline Beckman ($3 billion) merged with Britain's Beecham ($3 billion); Merrell Dow ($1.3 billion) of Midland, Mich., merged with Marion Labs ($752 million) of Kansas City. "Pharmaceuticals is the one industry in which the U.S. firms are the biggest and growing...
...Squibb and Bristol-Myers a consolidation seemed a natural. It would weld Squibb's skill at research and development with its partner's worldwide sales force. "There is pressure on health-care costs throughout the world. U.S. companies are merging to obtain efficiencies of scale," says David Lippman, who follows the industry for Drexel Burnham Lambert...