Word: pfizer
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...However, these targets were not backstreet bootleggers, but rather the headquarters to some of the biggest companies in the world: pharmaceutical giants like U.S.-based Pfizer, Britain's GlaxoSmithKline and Sanofi-Aventis of France. And the police were no gunslinging sheriffs, but bureaucrats from the European Commission, seizing computer files and documents. Welcome to the world of market regulation, and to the Commission's intrepid strike force of dawn raiders...
...raids, early on Wednesday, were launched from Brussels to investigate whether big drug companies were fixing the market to squeeze out copycat medicines. They included forays on Pfizer, Merck, Bayer Schering Pharma and Roche as well as generic firms such as Teva and Sandoz. Hours later, with almost ironic understatement, the E.U. competition watchdog said it had merely launched a "sector inquiry into pharmaceuticals with unannounced inspections...
...drugmakers have found some allies in the Chinese courts. Pfizer won a landmark trademark-infringement case in October when a Chinese court ordered a domestic company to stop using Pfizer's logo on its website and fined the offender $25,000. Novartis CEO Daniel Vasella, for one, cites China's "enlightened" patent laws as the reason the Swiss drugmaker will continue to invest in China vs. India, where a court recently rejected the company's attempt to protect a patent on a leukemia drug. "China has made tremendous progress and taken the steps to show they have the right priorities...
...launch 12 more by 2006. The company's relatively low debt and ample cash reserves have earned it a credit rating of AAA from Moody's. Morningstar analyst Todd Lebor praises the company's "excellent financial disclosure and conservative accounting" and notes that it has no unconsolidated debt. Pfizer's announcement last week that it will merge with Pharmacia sent several drugmakers looking for partners. But while Vasella doesn't rule out an acquisition, his firm is considered one of the few strong enough to succeed on their...
...that hardly matters. In Tunis, there are now entire new districts of office buildings, with signs announcing the recent arrival of multinationals like Pfizer, Ericsson and Siemens; in October Microsoft CEO Steve Ballmer flew in to weigh new ventures in the country. Amid the pizza parlors, cappuccino bars and bowling alleys, realtors advertise million-dollar villas with pools and saunas, while shopping malls are jammed with Tunisians buying food and furniture imported from Europe. With the embrace of Western-style capitalism has come social change, too: the biggest TV hit this year was Star Academy Maghreb, a homegrown version...