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With worldwide sales now exceeding a billion dollars annually, Xalatan, a glaucoma drug, has proven to be one of Pfizer’s biggest moneymakers. Yet although the drug’s initial research was funded by a $4 million federal grant, American consumers today pay two to five times more for Xalatan than their Europe counterparts. Norvir, a critical AIDS medication, was also developed with the help of taxpayer dollars. It too has earned millions for its manufacturer, Abbott Laboratories. But seeking bigger profits, Abbott raised the price of Norvir by an unprecedented 400 percent last December...

Author: By Sasha Post, | Title: Drug Bust | 2/19/2004 | See Source »

...misogynistic pornography. And Burgess has plenty of company; in fact, with teen-fiction shelves groaning under the weight of cautionary tales about sex, drugs, divorce or delinquency, it's little wonder many young readers scurry off to the fantasy section instead. But one writer of teen fiction has proven herself both frank and frankly worth reading. Malorie Blackman's 2001 best seller Noughts and Crosses transcended the kid-lit clichés even as it staked out disputed new turf for youth fiction. Its 13-year-old black hero, Sephy, starts out French-kissing her 15-year-old white boyfriend...

Author: /time Magazine | Title: Sharper Image | 2/16/2004 | See Source »

...labor pool and insatiable demand as evidence that this may not be a bubble at all; the Chinese economy is growing exponentially as a new middle class takes shape, they argue, and that should continue to drive stocks higher. Most of the companies going public are solid operations with proven track records, state backing and large market shares in well-understood industries - not Internet start-ups. The dotcoms "were selling a concept, but most of the companies listing in Hong Kong have a profit," says Kenny Tang, associate director of Tung Tai Securities. Still, some international investors are growing cautious...

Author: /time Magazine | Title: Heading for a Big Bang? | 2/15/2004 | See Source »

...Slick Announcing a 19% slide in Royal Dutch/Shell's fourth-quarter profits, chairman Philip Watts told shareholders he would not step down from the Anglo-Dutch firm after it slashed its proven oil and gas reserves estimate...

Author: /time Magazine | Title: Biz Watch | 2/9/2004 | See Source »

Bush’s handlers have proven themselves extraordinarily deft at managing the media, but that revelation is old news. With budget deficits soaring at an alarming rate, the prospect of Iraqi democracy becoming ever more uncertain and Bush now submitting to bipartisan calls for a potentially devastating intelligence review, another Rove-conceived media stunt is undoubtedly waiting in the wings. And it will likely give Bush the boost he seeks...

Author: By Benjamin J. Toff, | Title: Out of Touch, But Not out of Office | 2/6/2004 | See Source »

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