Word: priced
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Dates: during 1980-1989
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Many investors, especially short-term speculators, were badly shaken. The biggest losers were Wall Street arbitragers, who make money by buying the stock of takeover targets and selling it at a higher price when the deals go through. The high anxiety about the junk-bond market sent the stocks of takeover targets plunging across the board. "The arbs got their heads handed to them," said Anson Beard, the chief trader for Morgan Stanley. "Very few anticipated that the UAL buyout could fail." Small investors suffered less because they have been less active in the market since the 1987 crash...
...controversy over the high price of AIDS drugs is not limited to AZT, the antiviral medication that can cost patients as much as $550 a month. AIDS activists are assailing the high price of pentamidine, a medication that helps prevent a deadly form of pneumonia among people infected with the AIDS virus. The drug's manufacturer, Lyphomed of Rosemont, Ill., holds the exclusive license for pentamidine (brand name: NebuPent) in the U.S., where the drug retails for $110 to $200 for a month's supply...
Lyphomed defends its pentamidine price by citing high research-and- developmen t costs. The firm announced last June that it would make the drug available free of charge to patients who have no insurance, but the + company is still working out details of the program. Last month the People with AIDS Health Group, based in New York City, began importing small quantities of pentamidine from Britain. Reason: a month's supply of the European version, which is made by the French firm Rhone-Poulenc, costs just...
...August the company paid $300 million to purchase Britain's Island Records, a pioneer in reggae and progressive rock. Last week Polygram said it reached an agreement to swallow an even bigger target: A&M Records, the label founded by Tijuana Brassist Herb Alpert and promoter Jerry Moss. The price, which was not disclosed, was estimated at as much as $500 million...
AUGUST SNOW. Revered novelist Reynolds Price debuts a trilogy at the Cleveland Play House (titles of the other works: Night Dance and Better Days...