Word: generics
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Though Republicans aren't big fans of redistributive taxation, they are big fans of cutting overall taxation. To the extent that there is a generic Republican response to stagnant wages, this is it: spur growth by slashing stifling taxes...
...spurred by the expiration of patent rights on the acid blockers and growing competition from lower-priced generic drugs, the pharmaceutical firms are seeking and winning approval from the Food and Drug Administration for over-the-counter sales of somewhat milder versions of the blockers. At stake as the companies tout these products, say industry analysts, is an additional $1 billion in sales for heartburn medications. "This is a blockbuster," says Paul Kelly, president of Silvermine Consulting Group, in Westport, Connecticut. "It's the most dramatic medical launch since Advil." Two acid blockers, Tagamet HB and Pepcid AC, have begun...
...seeking FDA approval of an over-the-counter version. The wisdom of that decision became evident when Tagamet sales plummeted from $600 million in 1993 to only $400 million last year after the drug lost its patent protection in May and became vulnerable to competition from less expensive generic varieties...
...seems every country-music juke box has just one song on it these days: Shania Twain's Any Man of Mine. This chirpy feminist anthem, so popular that it has inspired a parody version by a male singer, is generic pop at its most infectious. It has a little festival of familiar tropes: fiddles and steel guitars, drawling humor and tight harmonies, a pounding melody echoing Neil Young's Love Is a Rose and some "yeahs" filched from Ray Charles. There's even a snatch of rap, square-dance style, as it might be rendered by a cheerleader at Buford...
...Tagamet last year; Merck's exclusive rights to Pepcid end in 2000; and Glaxo's claim to Zantac expires in 2002. By law, any company that switches to an over-the-counter preparation of its product enjoys a three-year monopoly before other firms are allowed to manufacture a generic version. All three companies are planning to use the time to establish name recognition and brand loyalty among consumers...