Word: bio
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...Bio-Medical Sciences, Inc., was founded five years ago by a man who was then only 21, and it has never earned a profit or sold a single product. Yet some major financiers have invested $30 million in the company. Among them, Allstate Insurance has put up $3,000,000, Prudential Insurance $2,000,000, the Rockefeller family $1,560,000 and a Yale University endowment fund $1,000,000. Merrill Lynch co-managed a $25 million private placement for the firm in September. The company's highly speculative stock, issued at $10 a share in 1969, was selling...
...have so many invested so much in Bio-Medical? The company is working on a family of disposable medical instruments that may offer some advantages in convenience, cost and sanitation over products now available. Among other things, Bio-Medical has developed a throwaway version of the simplest and most frequently used medical instrument: the thermometer...
Some 30 million glass thermometers now are sold each year in the U.S., and prices usually range from $1.50 to $2; Bio-Medical spokesmen say that the plastic thermometers will cost less than a dime each. Since they can be used only once, the company indicated in a prospectus filed with the SEC that distributors expect to sell around 1,000,000 thermometers daily...
Johnson & Johnson has contracted to market the product in the U.S., and Sweden's drugmaking AB Astra has signed up to sell it in Scandinavia. J. & J. will begin a test-marketing program in 1973. Bio-Medical has built a pilot plant in Fairfield, N.J., to make the thermometers and has applied for patents in more than 30 countries...
AFTER THREE YEARS of dodging dump trucks, cranes, and cement minors, after being constantly forced into Quincy Street on the way to William James or the Bio labs. Harvard students can be happy that Gund Hall is finally finished. The dedication festivities tonight provide in occasion for members of the architectural jet set, GSD faculty, and old alumni to engage in cocktail conversation about the beauties of the Building, Very late Friday night the Janitors will sweep away the last remains of the ceremonies and the GSD students can finally settle down to working in Gund Hall...