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...secret? An aggressive expansion in the U.S. and an innovative approach to R. and D. Novartis has launched nine groundbreaking drugs since 2000--three times as many as its nearest competitor--and plans to launch 12 more by 2006. The company's relatively low debt and ample cash reserves have earned it a credit rating of AAA from Moody's. Morningstar analyst Todd Lebor praises the company's "excellent financial disclosure and conservative accounting" and notes that it has no unconsolidated debt. Pfizer's announcement last week that it will merge with Pharmacia sent several drugmakers looking for partners...
Some dermatologists, worried about the possible crimp in their cash flow, aren't in love with the idea of patients treating themselves either. Could these gadgets make dermatologists obsolete? Not likely. If anything, those in the business argue, these self-treatments might entice consumers who want to do something but can't afford to. Eventually they'll be hooked, goes the argument, and visit physicians for more. Says Dr. Bruce Katz, director of the Juva Skin and Laser Center in New York City: "It's just like hair color. Sure, you can do it yourself...
...everyone. The deal highlights the competition among the cash-rich gulf states for clout and glory. As Dubai was finalizing its plans to buy OMX and trade it for 20% of NASDAQ, Qatar suddenly triggered a potential new bidding war by swooping up a nearly 10% share of the Nordic exchange. There may be room for more than one financial center in the region. Yet Dubai and Qatar seem bent on a showdown, with Dubai betting on its venture with the Americans and Qatar with the Europeans. "Both of them," one banker tells Time, "think there can only...
...government is poised to cap reimbursement rates for overhead costs incurred by researchers working under Department of Defense grants—a change that could further limit funding for Harvard scientists already strapped for cash...
...terrorist leaders as well as fighting al-Qaeda and the Taliban in the rugged mountains and lawless tribal areas along the border with Afghanistan. But whether through lack of will or lack of ability, Pakistan's army has struggled to keep up the fight--despite massive injections of cash and weapons from...