Drug on the Market

Article Abstract:

The Food and Drug Administration (FDA) is behind in approving new drugs for the market. The agency has a history of delay. One of the problems at the FDA is that the agency is currently without a head. Compounding the problem, after the former head resigned, many other key division heads also left. The FDA has a heavy workload and is very cautious about approving many new drugs, since having had trouble after approving some drugs. Many non-steroical anti-inflammatory drugs are now awaiting approval. Hundreds of other drugs are also waiting in the wings, both prescription and over-the-counter. The FDA has proposed new rules to improve its operations. Approval for these new rules is now being held up in the Office of Management and Budget (OMB). The agency is now under court order to complete the prescription drugs portion of a review by September 1984. No one expects it to meet this deadline.

Laws, regulations and rules, United States. Food and Drug Administration

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Going Like Sixty

Article Abstract:

The American Association of Retired Persons (AARP) is composed of 16 million members. The group is politically very active, working at a grass-roots level to organize for and against certain legislation. They were instrumental in the passage of the original Medicare law in 1967. AARP also offers many services to its members, including a group health insurance plan and a mail-order pharmacy service. The association is currently trying to organize for reform of health care. The association is regarded as an important political force.

Appointments, resignations and dismissals, Politics

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Flirting with Conversion

Article Abstract:

Prudential Insurance Company is considering becoming a company held by stockholders rather than policyholders - demutualizing. So is every other major mutual life insurance company. This is due to a new tax law scheduled to take effect which will result in mutuals paying much more tax than stockholder owned companies. The cost of being a mutual will be substantial. Converting will mean greater ease in raising capital.

Interpretation and construction, Tax law, Insurance industry, Securities

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