Word: one
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Dates: during 1950-1959
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Automobiles. Detroit is upping its estimate that 6,500,000 to 7,000,000 cars will be sold in 1960, including half a million imports, said W. C. Newberg, executive vice president of Chrysler Corp. No one is now thinking of a range much below 7,000,000 units. Reason for rising optimism: the large number of sales deferred by this fall's steel shortage, plus "the excitement over the new economy cars that has helped to stimulate sales in all other price classes...
...public, the U.S. drug industry would like to appear as a dedicated, white-coated scientist skillfully brewing one wonder drug after another. But Tennessee's Estes Kefauver, chairman of the Senate Antitrust Subcommittee, long has had ambitions to paint a different picture -of an industry that fixes prices too high. Last week, opening an investigation of drugmakers, the Keef got in his broad strokes as soon as nervous industry witnesses settled uncomfortably in their hot seats...
...competitor, then licensed so many other manufacturers that last year it had but 17% of the cortisone group market. Not for seven years did Merck recover its $21.8 million investment. Present to support Connor was Dr. E. C. Kendall, formerly at the Mayo Foundation, now at Princeton, one of three researchers who won Nobel Prizes for cortisone. Said Scientist Kendall: "Cortisone could still be just a laboratory curiosity if those who directed Merck & Co. had not had the foresight and courage to persist in trying to make it after everyone else had abandoned the attempt...
...Many Pitchmen? One of the biggest reasons for the high cost of medicines is the growing army of salesmen. The major drug firms employ an estimated 20,000, or one for every ten physicians, and they make 18 million calls a year to get doctors to prescribe and druggists to stock their products. Is this necessary? No, said Dr. Louis Lasagna, head of clinical pharmacology at Johns Hopkins. Too many new drugs, he said, often are "not as good as what they replace...
professional soldiers who have won star-studded reputations in the postwar business world, the out standing example is General Lucius DuBignon Clay, the compact (5 ft. 9 in., 170 tbs.), hard-driving chairman and chief executive of Continental Can Co. West Pointer ('18) Clay, 62, carried out one of the biggest logistical jobs in history as director of materiel in the Army Service Forces in World War II. After war's end, as commander in chief of U.S. forces in Europe and Military Governor of the U.S. Zone, he directed the reordering and rebuilding of a major segment...