Word: upping
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Dates: during 1950-1959
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In choosing Schering as his initial target, Senator Kefauver picked a good example of the high-profit potential of the drug industry. Set up in Bloomfield, N.J., in 1935 by Germans to make sex hormones, Schering had only $3,000,000 in annual sales when the Government confiscated the company...
Upjohn's Dr. E. Gifford Upjohn conceded that the race of drug companies to keep up causes his firm, in line with others, to spend 28.6% of its budget on 1,000 salesmen (out of 5,700 employees), plus other promotional activity. Research costs: 9%. Despite the high overhead...
PHONY TV ADVERTISING will come under closer watch by the FTC and the Justice Department. They have agreed to tighten prosecution against deceptive commercials in the food, drug and cosmetic fields. Convicted advertisers would face criminal penalties of up to $5,000 and six months in jail for a first...
LIFE INSURANCE COMPANY assets will climb to a record peak of $113.6 billion by the end of the year, up $6 billion from last year's high.
LUCIUS CLAY does not rest on his fame or his contacts (Continental has little Government business) to earn his $150,000 yearly salary. "Does he run the company?" asks a Continental executive. "I'll say he does. Not just 100% - about 106%." Clay has a photographic memory that enables...