Word: bayer
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...total comp--not just salary--to figure final pay. John Snow, the new Treasury Secretary, got such a deal when he retired as CEO of railroad CSX. You probably won't. But you might negotiate a higher annual benefit--say, 70% of final pay instead of 50%, says Richard Bayer, chief operating officer at the Five O'Clock Club, an outplacement firm...
More new hires are demanding a sweet severance deal up front. "The manual probably says you get one week's pay for every year of service, but that's not practical" with no-fault layoffs, Bayer says. You should get a flat six months' pay, along with company-paid health insurance and career counseling. None of this is as good as cash. But no one needs to tell you to get as much of that...
Viagra may soon get some tough competition. GlaxoSmithKline and Bayer are on schedule to bring a drug called vardenafil (trade name: Levitra) to market in Europe later this year. Another drug, called tadalafil (Cialis), is also being launched there. Like Viagra, these new pills facilitate an erection by trapping more blood in the penis. Pfizer, the maker of Viagra, believes both new drugs infringe on its patent. The company lost its case in Europe; another lawsuit in the U.S. is pending...
When German conglomerate Bayer announced late last year that it is seeking a majority partner for its drug business, speculation swirled that a rival pharmaceutical giant would snap it up. Bayer seemed attractive not for its illustrious past (the company launched the modern pharmaceutical industry with its 1897 invention of aspirin) or high-volume present (it has annual pharma revenues of j4.8 billion), but for its future: the company has a sexual-potency drug, Levitra, ready to come on the market this year, which is touted as the next Viagra. The prize is almost certainly worth billions in sales...
...spot in the global drug industry. IBM Sings the Big Blues IBM, the world's largest com-puter company and leading tech indicator, reported a 97% fall in quarterly earnings. IBM warned that technology spending may stay slow this year. The Sweet Smell of Sale German drug giant Bayer is selling its Haarmann & Reimer fragrances and flavor unit to Sweden's EQT for 31.66 billion. The move helps cut Bayer's 314 billion debt. INDICATORS The Dollar takes a dip The euro reached and passed parity with the dollar for the first time in two and a half years, ending...