Word: cyanamid
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Dates: during 1960-1969
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...years since, Dumas Milner has never stopped selling, and last week he did his biggest buying and selling yet. Breaking off the biggest single chunk of his $60 million Southern empire, Milner swapped his thriving household-products business (Perma Starch, Mystic Foam Cleaner, Pine-Sol) with American Cyanamid for $11 million in Cyanamid stock. At the same time, he sold off a parcel of Southern hotels and motels for $10 million in cash...
...years later-months after Fox had quit his Cyanamid job-that a tip came from Italy that industrial spies were hawking stolen U.S. drug formulas to Italian pharmaceutical houses. For Cyanamid this was bad news indeed: since Italy, alone among Western nations, has no law protecting drug patents. Italian manufacturers are free to copy any drug whose formula they can lay hands...
...Buyer. Early this year, Cyanamid finally brought suit against Fox and Sharff for $5,000,000 apiece, charging that the two chemists had delivered to at least six Italian companies formulas and cultures for three Cyanamid-developed antibiotics and one antiarthritic steroid. Cyanamid estimates that the Italian firms-all of which hotly echo Fox and Sharff in denying any formula pirating-last year sold $25 million worth of drugs based on Cyanamid processes. Ironically, two major customers for the controversial drugs were the bargain-minded U.S. Defense Department and Veterans Administration, which together during the past two years bought...
Last week, arriving in Sicily to inaugurate a big chemical and pharmaceutical complex newly built by his company's Italian subsidiary, Cyanamid President Kenneth Klipstein bluntly urged the Italian government to give reputable drug manufacturers prompt legal protection against "irresponsible firms." Klipstein may yet get his wish-at least in part. Along with foreign drugmakers. the big Italian pharmaceutical houses have grown fed up with the pirating of formulas by small competitors. "It's about time Italian manufacturers got some patent protection," roars Franco Palma, the president of Squibb's Italian affiliate. "We put millions into developing...
...Italy's Minister of Industry and Commerce Emilio Colombo. 42, who has had a bill drawn up that would provide full patent protection for chemical processes in Italy. But under the leadership of Deputy Antonio Cremisini, a Milan drugmaker whose own firm, I.B.I., is among those accused by Cyanamid of pirating its processes, the small Italian companies are putting up an effective political fight to write into the bill an amendment that would guarantee them the right to produce under license any new drug developed by the big companies. Hoping to get the bill passed by early next year...