Go to Jeff Salisbury LWGate Home Page.From: Lois <ldibbs@comcast.net>
Subject: Re: [CANSLIM] canslim stocks
Date: Thu, 01 Aug 2002 13:23:18 -0500
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Larry,
http://www.newsmax.com/archives/articles/2002/7/31/151107.shtml
Senate Passes Bill on Generic Drugs=20
NewsMax.com Wires
Thursday, Aug. 1, 2002=20
WASHINGTON =96 The Senate passed a bill Wednesday =
that
could
make cheaper generic drugs more rapidly available =
and
save
consumers billions =96 or hamper development of
pharmaceuticals.=20
A similar bill has been introduced in the House, b=
ut
it is unclear
whether it has the support to pass.
The Senate bill, sponsored by Sens. Charles Schume=
r,
D-N.Y., and
John McCain, R-Ariz., attempts to curb lawsuits fi=
led
by
brand-name drug manufacturers that claim a generic
drug infringes
upon their patent and automatically prevents the
generic from
coming to market for 30 months.=20
Under the current system, drug manufacturers can f=
ile
multiple
patent infringement lawsuits, thereby keeping
generics off the
market for years. Meanwhile, the brand-name drug
continues to be
sold at a higher price. Generic versions of
brand-name drugs
typically result in a dramatic reduction in the pr=
ice
of the drug but do
not advance pharmaceutical research.
The Senate bill limits automatic 30-month stays to
patents the
brand name carries at the time it is approved.
Brand-name drug
manufacturers can still challenge infringement upo=
n
patents that are
added after approval, but they must first get the
approval of a
judge.
Republicans opposing the bill, including Sen. Judd
Gregg, R-N.H.,
and brand-name drug companies maintained that the
bill would
reduce profits and the amount of money that could =
be
spent on
research and development. Ultimately, it would sti=
fle
the
development of innovative new drugs, they said.=
=20
"The only thing they have to worry about are weak
bogus patents ...
that they could not support before a judge," Ben
Peck, legislative
representative for the self-described consumer
advocacy group
Public Citizen, told United Press International.
Sen. Robert Torricelli, D-N.J., reprimanded Tuesda=
y
by the Senate
Ethics Committee, said the bill could reduce drug
costs by up to 65
percent and save consumers $60 billion over the ne=
xt
decade.
Larry Worden wrote:
>=20
> what about (TARO) ? the generic drugs should do will in this envir=
onment.
> ----- Original Message -----
> From: <Spencer48@aol.com>
> To: <canslim@lists.xmission.com>
> Sent: Thursday, August 01, 2002 7:51 AM
> Subject: Re: [CANSLIM] Cramer-off topic
>=20
> > David, zillagirl:
> >
> > I remember in the 80's during the S&L scandals, the CEO of t=
he chief
> S&L that defrauded despositors was found guilty in court. But he h=
ad moved
> many of his assets to Florida, and bought many more (including a ho=
rse
> ranch)-and the Florida laws protected him.
> >
> > So, even though he was found guilty, he did not have to disg=
orge many
> of his profits of his ill-gotten gains.
> >
> > jans
> >
> >
> > In a message dated Wed, 31 Jul 2002 1:19:00 PM Eastern Standard T=
ime,
> dougald@dmv.com writes:
> >
> > > I do not see how it is going to stop anyone from building a mil=
lion
> dollar
> > > House. Unless,of course, something is done about Florida. As a=
matter
> of
> > > interest, iUnder the present law if you think you are about to =
go
> bankrupt
> > > you can always move to Florida ,where your home is immune
> > > to the Bankruptcy
> > > Laws. For example O.J. Simpson lives in Florida
> >
> >
> >
> > -
> > -To subscribe/unsubscribe, email "majordomo@xmission.com"
> > -In the email body, write "subscribe canslim" or
> > -"unsubscribe canslim". Do not use quotes in your email.
>=20
> -
> -To subscribe/unsubscribe, email "majordomo@xmission.com"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim". Do not use quotes in your email.
- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim". Do not use quotes in your email.
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