Word: anding
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Dates: during 1950-1959
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When the subcommittee asked Merck & Co.'s President John T. Connor for an explanation, he was well prepared. The big companies, said he have different selling costs for individual sales and bulk sales to Government, could not stay in business if they sold to everybody at the same 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 in.
Illustrating the job of the creators, Connor said that his company spent 15 years trying to develop a cure for the rare (800 new cases a year) Addison's disease. In the search it found out, in 1949, how to mass-produce cortisone, today used by millions, and with...
Too Many Pitchmen? One of the biggest reasons for the high cost of medicines is the growing army of salesmen. The major drug firms employ an estimated 20,000, or one for every ten physicians, and they make 18 million calls a year to get doctors to prescribe and druggists...
PHONY TV ADVERTISING will come under closer watch by the FTC and the Justice Department. They have agreed to tighten prosecution against deceptive commercials in the food, drug and cosmetic fields. Convicted advertisers would face criminal penalties of up to $5,000 and six months in jail for a first...