Word: browne
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Dates: during 1950-1959
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...below the eastbound presidential jet, the flat expanses of the Middle East gave way to the brown plains, the broad desert, the towering, snow-topped mountain ranges of the Indian subcontinent. And as the earth's face changed beneath the speeding plane, something of the old, old world changed imperceptibly too. In Pakistan, Afghanistan and India last week, the shapes and colors and sounds of older centuries mingled and fell around Dwight Eisenhower, as in a vast kaleidoscope, into strange patterns. Each pattern formed a new sensation, each sensation was etched with the faces of the multitudes reaching...
Truman's first job was to introduce the seven Democratic presidential possibles, and he plainly wore his heart on his sleeve. He breezed lightly over California's Governor Edmund ("Pat") Brown ("a man to be reckoned with''), New Jersey's Governor Bob Meyner ("in the spotlight of public interest"), and Michigan's Governor G. Mennen ("Soapy") Williams ("in the forefront of enlightened social legislation"). Minnesota's Senator Hubert Humphrey was "one of the forward-looking thinkers in our ranks"; Adlai Stevenson, chairman of the evening, was "an important and gifted voice...
Hidden Costs. Upset by the fast attack, Schering's President Francis C. Brown hotly protested that Keef's chart -and the Keef himself-were all wrong. Prednisolone, said Brown, is a Schering improvement on Merck & Co.'s basic cortisone, is marketed by Schering under the trade name Meticortelone. Schering cross-licensed other companies to make it and bought a lot of it from Upjohn Co., at $1.19 per hundred tablets. But this price, argued Brown, did not take into account the costs for research, administration, taxes, selling and distribution. By Schering's figuring, said Brown...
...people think that wonder drugs, such as prednisolone, which enables bedridden arthritics to walk, cost too much, said Brown haughtily, the problem is "inadequate income rather than excessive prices." In reply, the subcommittee staff brought out that Schering bought some hormone tablets at 12? per 60 from a French manufacturer, wholesaled them as "Progynon" for $8.40 with a consumer price of $14-a 7,079% markup...
...target, Senator Kefauver picked a good example of the high-profit potential of the drug industry. Set up in Bloomfield, N.J., in 1935 by Germans to make sex hormones, Schering had only $3,000,000 in annual sales when the Government confiscated the company in 1942, and put Francis Brown, then a young Government attorney, in charge. The Government sold the company for $29 million in 1952, and within five years its yearly net exceeded that. But success was not guaranteed. A year after the stock went on the market at $17.50, it dropped to $11 before the company developed...