Centocor wins FDA approval for a third medicine
Article Abstract:
Centocor Inc. has won the formal approval of the US Food and Drug Administration (FDA) for Remicade, a drug that helps regulate intense intestinal distress brought about by Crohn's disease. the FDA approval means that the Malvern, PA-based biopharmaceutical company, which posted $200 million sales in 1997, is projected to add $30 million to $40 million in 1998 from its sales of Remicade alone. Centocor is one of a small number of biotech companies across the US to have three FDA-approved drugs, but the distinction has yet to make a positive mark on Centocor's stock.
Comment:
Wins the formal approval of US FDA for Remicade, a drug that helps regulate serious intestinal distress due to Crohn's disease
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Tenet trimming some programs to cut expenses
Article Abstract:
Tenet Healthcare Corp. is closing its hospice program at the Medical College of Philadelphia Hospital and merging the Graduate Home Care program with a similar one at Elkins Park Hospital in an effort to save money and make its eight Philadelphia-area hospitals profitable. The company is also facing a strike authorization vote from unionized nurses at its Medical College of Pennsylvania facility. Tenet, the only for-profit company operating hospitals in this area, is under scrutiny from community activists for allegedly failing to treat poor and uninsured people.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1999
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