Word: biotech
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...effort has gone into figuring out how to replace damaged cartilage. Many arthritis sufferers swear by the dietary supplements glucosamine and chondroitin. Preliminary studies suggest that they may relieve pain, but the jury's still out on whether they actually promote the growth of new cartilage. The first approved biotech cartilage implants have hit the inevitable stalemate: once the new cartilage is in place, it's subject to the same destructive forces that chewed up the original cartilage. In addition, transplanted cartilage does not seem to adhere very well to existing tissue, though researchers are trying new approaches...
...remedy called Prilosec and transformed it into a worldwide best seller. At Bristol-Myers Squibb in the late '90s, she worked the same magic on billion-dollar brands like Pravachol (for high cholesterol) and Glucophage (for diabetes). Today Potter, 44, is the COO of the world's No. 2 biotech firm, Genentech, where she's working to bring 20 drugs to market over the next decade. By then, observers believe, Potter stands a good chance of becoming...
PLEADED GUILTY. SAMUEL WAKSAL, 54, Former chief executive of ImClone Systems, to insider-trading charges. Among them: telling his daughter to dump shares of his highflying biotech firm just before news broke that the FDA had rejected one of its cancer drugs. Waksal is trying to spare family members from prosecution. His plea might not help home diva Martha Stewart, also under investigation for improperly selling ImClone shares...
...Squadron. It's a good thing, then, that the hope of beating the Kiwis, who have held the Cup since 1995, enticed the fabulously rich to open their wallets. The competition includes teams funded by Oracle's Larry Ellison, Microsoft co-founder Paul Allen and telco investor Craig McCaw; biotech mogul Ernesto Bertarelli; shipping magnate Vincenzo Onorato; British tech millionaire Peter Harrison; and, of course, all the old and new money associated with the New York Yacht Club. After the first round robin in the famously capricious winds of Auckland's Hauraki Gulf, two of the highest-spending syndicates, OneWorld...
...felt the media attention surrounding her would "distract from the important work of the N.Y.S.E." Stewart had been elected to the board only four months earlier, shortly before allegations arose that she had participated in insider trading. Stewart sold all her shares of ImClone one day before the biotech company disclosed that its new cancer drug would not be approved by the Food and Drug Administration. Stewart has denied doing anything improper. But adding to her woes last week was the guilty plea entered by Douglas Faneuil, who was an assistant to Stewart's broker at Merrill Lynch. Faneuil admitted...