Word: dupont
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...Seagram. Bronfman has had to endure endless Hollywood brickbats since his father tapped him for the top job in 1994. Outsiders ridiculed the Bronfman scion, who writes pop songs under the pseudonym Junior Miles, as a star-struck dilettante when he jettisoned Seagram's lucrative 24.2% stake in DuPont and used the proceeds to buy Universal. It didn't help that DuPont stock promptly doubled, as Seagram's own shares sparkled less than flat Champagne. Yet Bronfman stubbornly stuck to his show-biz guns. He shelled out $10.4 billion for Polygram music in 1998, making his family's 76-year...
...other states, the brand-name companies have retained the upper hand. DuPont's allies in Florida, for instance, killed this year's effort by its rival Barr to let pharmacists substitute generics, including its blood thinner warfarin, for four brand-name drugs unless a doctor objects. Minutes after the state senate passed a bill backing Barr's plan in April, a flotilla of DuPont lobbyists converged on Speaker John Thrasher's office. Thrasher had earlier asked Republicans studying the bill to oppose it. Now he refused to let it come up for a vote. With the clock running, allies...
...Congress and the presidential candidates fret over the high prices of prescriptions, the drug companies have been launching rear-guard actions in the states to protect their profits. Florida is one of about 30 states in which makers of brand-name drugs, often led by DuPont, have pushed to limit patient access to some generic versions. At times the generic companies have pushed back and won. In 1998 Minnesota gave its consumers access to all the cheaper substitutes approved...
Three years ago in North Carolina, DuPont helped ram through the legislature a bill requiring doctor's approval for the substitution of generics like Barr's warfarin. "We are only concerned about patient safety," says DuPont spokesman Thomas Barry. Some physicians support DuPont's position because they say warfarin is a tricky drug and doses must be carefully calibrated. The implication is that the brand names do a better job of that. But the FDA says the generic version is safe and has admonished DuPont more than once for stoking false fears in its promotion of Coumadin...
...DuPont isn't the only company throwing tacks in the path of its generic rivals. Just last week Novartis, maker of the blockbuster anti-rejection drug Neoral, for organ-transplant patients, failed to get a Massachusetts state drug board to limit sales of Neoral's equivalent, generic cyclosporine. Ohio's senate, egged on by Novartis, has held 11 hearings in two years on this issue. "They have been bloody dogged on this," says R.J. Tesi, an executive with generic cyclosporine maker SangStat Medical Corp. He points out that patients spend $5,000 or more on Neoral yearly, while the generic...