Word: product
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...trainee--but one with a rocket strapped to his back. A year after joining Sandoz, Vasella became product manager for a new drug named Sandostatin, approved to treat a rare pancreatic cancer. The head of Sandoz's U.S. pharmaceutical unit joked that Vasella could consider his job well done if he made Sandostatin a $5 million product, a pittance in the branded-drug business. Vasella realized that to make Sandostatin a commercial success, he had to find new uses for it. And he believed he could do that only by radically changing the game...
...pharmaceutical firms have drawn criticism for extending their franchises through frivolous lawsuits blocking equivalent generic drugs that are much less expensive. To allow drug companies to recoup investments and collect healthy returns, the Hatch-Waxman Act of 1984 gives companies 20-year monopolies from the day they patent a product. (After that, revenues from a drug can drop as much as 80% within months as generics erode the market.) The law allows drug firms a 30-month monopoly extension to resolve patent disputes. That loophole is much abused. Companies often sue generic manufacturers just to buy time...
...allure that a magic wand of youth can be waved at home has made consumer-products giants like Procter & Gamble (P&G) and Johnson & Johnson (J&J) snap to attention. After all, these devices have the potential to snare a sizable chunk of the estimated $24 billion that Americans spend to rejuvenate their faces and remove unwanted hair. Seeing synergies with its Neutrogena brand, J&J jumped into self-dermatology in 2004, signing an exploratory multiyear licensing deal with the $120 million company Palomar Medical Technologies to develop, test and commercialize light-based aesthetic devices that can treat wrinkles, cellulite...
...February, under the guidance of president Susan Arnold, who previously headed the company's beauty and personal-care division--a group that added more than $20 billion in sales to P&G's top line last year--P&G invested an additional $1.5 million in the project after the product got FDA over-the-counter clearance. Days later, P&G also signed a joint agreement to develop and distribute home-use antiaging devices with Syneron Medical Ltd., a $150 million medical-device maker in Yokneam, Israel, known for its patented "elos" technology, which combines bipolar radio frequency and light sources...
...went on sale at Nordstrom in April. "We ran out of stock in the first 30 days," boasts Sherif. "And I got phone calls from [potential partners and buyers] after just 20 days of being in business. Can you believe it?" Dee Rodriguez, president of Coastal Products International, the U.S. distributor of ilift, an antiaging device using infrared light, which was originally developed in Italy, also got instant nibbles from "names that you'd definitely recognize," she says, after displaying her product at a trade show. The gadget, which comes with a 30-day supply of a specially formulated serum...