Word: miltown
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Dates: during 1960-1969
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...makers of tranquilizers had reason to down a few pills themselves last week. In a Manhattan federal court, the U.S. Justice Department charged that two of them had conspired to monopolize the $40 million-a-year market for meprobamate, better known as Miltown or Equanil. The defendants: Carter Products, Inc., recent loser in a 17-year struggle with the FTC to preserve the "Liver" in Carter's Little Liver Pills, and giant (1959 sales: $450 million) American Home Products, which sells 90 household products, from Chef Boy-Ar-Dee ravioli to Anacin and Preparation H (for hemorrhoids). Trustbusters charged...
Some support for the charges came last week from Washington, where Senator Kefauver's antimonopoly subcommittee probed into the high price of tranquilizers -which cost up to six times as much in the U.S. as in foreign countries. One Miltown tablet costs only .7? to make, testified Carter President Henry Hoyt, but it sells to druggists for 3.3? and retails for about a dime. Why the wide spread? Into every pill, replied Hoyt, Carter figures research costs of .4?, promotion costs of 1?, profit of 1.2?. As for promotion, Carter has a blue-ribbon mailing list...