Word: generic-drug
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Enter Barrett. Before being hired to head Cardinal's drug-distribution business in early 2008, Barrett ran the North American operations of Teva, one of the world's largest generic-drug manufacturers. Barrett immediately focused on luring back independent-pharmacy customers, which are more profitable and rely on wholesalers for generics. The first step was to reopen all supply channels by paying $34 million to settle the DEA's allegations surrounding the firm's role in filling fake prescriptions. Then Barrett narrowed Cardinal's sources for generics from 120 to a few dozen to ensure that it could consistently offer...
...other side has resources of its own. The biggest generic-drug company, Teva Pharmaceuticals, has spent more than $2 million on lobbying and also sponsored academic work on the issue, aiming to disprove Duke's Grabowski. Generic-drug manufacturers are allied with such powerful organizations as AARP, labor unions, insurance companies, health-maintenance organizations and health-reform advocacy groups. There will be fights on the House and Senate floors and ultimately a House-Senate conference committee, on which Waxman will be a key voice. "The war is not over," he has warned. "If you know me at all, you know...
Merckle began small, taking over a family company with just 80 employees in 1967. In the following years he transformed it into a vast corporate empire of 120 companies that generate revenue of some €30 billion, employ around 100,000 people and range in concerns from generic-drug maker Ratiopharm to Germany's biggest cement maker, HeidelbergCement. An unassuming lawyer, he was Germany's fifth richest individual and 94th on Forbes' list of the world's richest people, with a net worth estimated at nearly €7 billion ($9.2 billion...
...class of post-Watergate reformers. The walls of his office are covered with framed souvenir pens that were given to Waxman by Presidents from Ronald Reagan to Bill Clinton in recognition of the role he played in the landmark legislation they signed into law. Among those bills were generic-drug legislation, food- and toy-safety laws, Medicare catastrophic coverage and a safe-drinking-water...
...does love to do is write laws, and he has been extraordinarily good at it. The walls of his Washington office are covered with framed pens that Presidents from Ronald Reagan to Bill Clinton used to sign the laws that Waxman helped make a reality: the Clean Air Act, generic-drug legislation, food- and toy-safety laws, and Medicare catastrophic coverage, to name a few. In 1994, as chairman of the health and environment subcommittee, he lined up the chief executives of the nation's biggest tobacco companies, had them raise their right hands and then shredded them as finely...