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Pharmaceutical Industry

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BUSINESS
March 28, 1993 | By Marian Uhlman, INQUIRER STAFF WRITER
With a month to go before an administration task force unveils its proposal to revamp the nation's health-care system, the pharmaceutical industry is revising policy positions, adopting a more open posture and making new promises of reform. Anything to avert its worst nightmare: government price controls. Several overtures have come in recent weeks from the Pharmaceutical Manufacturers Association (PMA). Each is a significant departure from past policies. The trade association has: Endorsed the expansion of the Medicare program so that it would cover medicines bought outside hospitals, where most consumers get them.
NEWS
June 9, 1992 | By ROBERT F. ALLNUTT
The pharmaceutical industry would like to set the record straight - once again. We strongly support the humanitarian concept and the continued operation of the Pharmaceutical Contract for the Elderly (PACE) program in Pennsylvania. Secretary of Aging Linda M. Rhodes (Commentary Page, May 30) would have Pennsylvanians believe otherwise. That's because we disagree on the need for the drastic measures she proposes under the so-called "PACE Rescue Plan" legislation now being considered by the Senate.
BUSINESS
December 17, 2003 | By Henry J. Holcomb INQUIRER STAFF WRITER
PMRS Inc., a privately held supplier of analytical and manufacturing services to the pharmaceutical industry, has bought a 120,000-square-foot building near its present site in Horsham to expand its operation. The $6 million building at 202 Precision Dr., Horsham, will be upgraded at a cost of about $11 million over the next year. "We're going to make that building a world-class facility," said Edwin R. Thompson, who started the company in 1994 and still serves as its president.
NEWS
March 13, 2013 | By Bonnie L. Cook, Inquirer Staff Writer
Michael E. Yasick, 49, of Downingtown, a leader in the pharmaceutical industry for more than two decades, died Friday, March 8, of a heart attack at Paoli Hospital. Mr. Yasick worked from 1988 to 2001 for GlaxoSmithKline, including a stint in London, before joining Shire Pharmaceuticals in 2004 as head of the gastrointestinal business unit. His specialty was developing medicines for treatment of infections, central nervous system ailments, gastrointestinal problems, and attention deficit hyperactivity disorder (ADHD)
NEWS
January 12, 2014 | By Paul Jablow, For The Inquirer
Buying prescription drugs overseas is back on the national agenda. Maine recently allowed residents to buy drugs from pharmacies in Canada, England, New Zealand, and Australia, triggering a lawsuit from the pharmaceutical industry. And a bill introduced last month in Congress would let people buy drugs from countries with safety rules similar to our own. Prescription drug prices here are generally higher than anywhere else in the world. While it is technically illegal for U.S. citizens to import drugs manufactured here and exported, it is a fact of today's world.
NEWS
March 22, 1998 | By Mary Blakinger, INQUIRER CORRESPONDENT
For Lonza Inc., growing demand for prescription medicines has been a shot in the arm. The maker of high-purity chemicals used by the pharmaceutical industry has invested $40 million in its Upper Merion plant since acquiring it in 1992. Further expansion is planned through 1999, company officials say. They also expect the plant's workforce of about 180 to keep growing. "In the next five to seven years, we're looking to expand the workforce to 400," said Paul J. Sieracki, safety and environmental manager.
BUSINESS
December 12, 2013 | By David Sell, Inquirer Staff Writer
Teva Pharmaceutical Industries Ltd., which is awash in turmoil, told financial analysts Tuesday that it projects that about $500 million in 2014 revenue hinges on how soon the Food and Drug Administration approves generic versions of Teva's top-selling multiple sclerosis drug, Copaxone. Teva is a corporate contradiction within the pharmaceutical industry because it is the world leader in generic-drug revenue, but about 20 percent of its revenue comes from one patent-protected, original medication that produces higher profits per unit.
BUSINESS
September 4, 2003 | By Karl Stark INQUIRER STAFF WRITER
Fancy dinners for doctors are supposed to be a thing of the past for the pharmaceutical industry. The makers of medicines have been encouraged for more than a year to fete physicians only at modest restaurants to avoid the appearance of a conflict. But physicians are still dining well on the tab of big pharmaceutical companies, suggests David Grande, a young, Philadelphia-trained physician. Grande, who recently finished his medical residency at the University of Pennsylvania, recorded the restaurants that 150 fellow residents were invited to in a six-month period.
NEWS
August 22, 2005 | By Chris Mondics INQUIRER WASHINGTON BUREAU
Snow swirled through this picturesque old university town late one afternoon in December as Peter Krammer flipped open his laptop to reveal a medical marvel. There, on the computer screen at the sleek headquarters of the German Cancer Research Center, was a video of a laboratory rat swimming in a small tank. Its frantic movements amounted to a small miracle. Krammer, one of Germany's best-known cancer researchers, had discovered a drug that enabled the rat to regain full movement after its spinal cord had been partially severed.
NEWS
September 9, 2004 | By Stacey Burling INQUIRER STAFF WRITER
In a move they hope will give doctors information to make better prescribing decisions - including the results of clinical trials that make drugs look bad - a group of prominent medical editors announced new rules yesterday for studies they will publish. Eleven medical journals, including some of the nation's most influential, will publish articles only about studies that were listed in an independent registry at their outset. Editors said this would make it more difficult for pharmaceutical companies to promote studies that made their products look good while hiding those with equivocal or poor results.
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NEWS
January 12, 2014 | By Paul Jablow, For The Inquirer
Buying prescription drugs overseas is back on the national agenda. Maine recently allowed residents to buy drugs from pharmacies in Canada, England, New Zealand, and Australia, triggering a lawsuit from the pharmaceutical industry. And a bill introduced last month in Congress would let people buy drugs from countries with safety rules similar to our own. Prescription drug prices here are generally higher than anywhere else in the world. While it is technically illegal for U.S. citizens to import drugs manufactured here and exported, it is a fact of today's world.
BUSINESS
December 12, 2013 | By David Sell, Inquirer Staff Writer
Teva Pharmaceutical Industries Ltd., which is awash in turmoil, told financial analysts Tuesday that it projects that about $500 million in 2014 revenue hinges on how soon the Food and Drug Administration approves generic versions of Teva's top-selling multiple sclerosis drug, Copaxone. Teva is a corporate contradiction within the pharmaceutical industry because it is the world leader in generic-drug revenue, but about 20 percent of its revenue comes from one patent-protected, original medication that produces higher profits per unit.
BUSINESS
November 28, 2013 | By David Sell, Inquirer Staff Writer
Turmoil continues at Teva Pharmaceutical Industries Ltd., which this week tried to dispel a report of company expectations of a dramatic decline in profit for its best-selling drug, and last week was suggested to be a possible takeover target by other drugmakers. On Oct. 30, chief executive officer Jeremy Levin resigned after a dispute with the board of directors, which didn't seem to mind his departure. "In a low-interest-rate environment, Teva is now sitting in a very attractive position for an acquirer," Bernstein Research analyst Ronny Gal wrote in a recent note to clients.
NEWS
March 13, 2013 | By Bonnie L. Cook, Inquirer Staff Writer
Michael E. Yasick, 49, of Downingtown, a leader in the pharmaceutical industry for more than two decades, died Friday, March 8, of a heart attack at Paoli Hospital. Mr. Yasick worked from 1988 to 2001 for GlaxoSmithKline, including a stint in London, before joining Shire Pharmaceuticals in 2004 as head of the gastrointestinal business unit. His specialty was developing medicines for treatment of infections, central nervous system ailments, gastrointestinal problems, and attention deficit hyperactivity disorder (ADHD)
BUSINESS
August 21, 2011 | By Jane M. Von Bergen, Inquirer Staff Writer
Maybe the 15 women chatting over coffee at the Wegmans supermarket cafe in Malvern should start their own pharmaceutical firm. They have the brain power, if not the capital. A scientist who spent 19 years in drug development sat a few tables away from a coordinator of clinical trials. A few managed pharmaceutical finances, and one administered a $2.7 billion global research and development budget. One handled drug pricing and another edited marketing materials. The former human resources person squeezed in next to the woman who once worked in supply logistics.
NEWS
June 24, 2011 | By David G. Savage, Chicago Tribune
WASHINGTON - The Supreme Court gave the pharmaceutical industry a pair of victories on Thursday, shielding the makers of generic drugs from most lawsuits by injured patients and declaring that drug manufacturers had a free-speech right to buy private prescription records to boost their sales pitches to doctors. In both decisions, the court's conservative bloc formed the majority, and most of its liberals dissented. About 75 percent of the prescriptions written in the U.S. are for lower-cost generic versions of brand-name drugs.
NEWS
August 11, 2009 | By FATIMAH ALI
I'M OUTRAGED at the White House's apparent coziness with Big Pharma. Our medical industry is driven by drug profits and over the last two decades, the pharmaceutical industry has been driving health care costs to unsustainable levels. Some chronically ill patients and many of the elderly say they can't afford their medication if they don't carry gold-plated insurance to pay for it. So I'm not impressed that Big Pharma will spend $150 million on TV ads, or its pledge to cut drug costs by $80 billion, without first learning the specifics of the deal that the industry cut with the White House, since we can blame the drug companies' hefty prices as one of several causes of unaffordable health care for millions.
BUSINESS
March 2, 2008 | By Karl Stark INQUIRER STAFF WRITER
It's a year of shifting allegiances for the pharmaceutical industry, which has leaned Republican in recent years. The presumptive GOP candidate, John McCain, views the drug industry as "big bad boys" and vows to curb their influence. And the candidate with the most pharma contributions at the moment is Democrat Hillary Rodham Clinton, a lightning rod for criticism during her husband's health-reform effort of the 1990s. "It's quite clear the industry bets on candidates like they bet on horses," said Uwe Reinhardt, a health-economics professor at Princeton University.
NEWS
January 28, 2006
Health-care partners Your article on the relationship between pharmaceutical industry representatives and Penn Health System ("Physician, steel thyself from gifts," Jan. 25) deserves clarification. Following a symposium in 2004 on this subject, it was our intention to remodel our relationship with the pharmaceutical industry. Our symposium occurred against an internal backdrop of rigorous decision-making about new drugs and long-standing policies to restrict the movements and activities of pharmaceutical company representatives.
NEWS
January 13, 2006
LAST WEEK, I had to pay cash for my prescription because either Blue Cross' or our government's computers weren't updated to the changes in Medicare. Added to that aggravation is the unabashed greed the pharmaceutical industry expects us to support. My prescription plan has an annual cap. Because of that, I know the retail cost was $173 last year. This time, I had to pay $200. That increase, I suspect, is due solely to the federal government's paying either the whole freight or the difference in private coverage.
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