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

Product information, Pharmaceutical Preparation Manufacturing, Pennsylvania, Digestive System Preps NEC, Centocor Inc., Gastrointestinal agents, Article

---

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.

United States, Strategy & planning, Financial management, Hospitals, Services discontinued, Tenet Healthcare Corp.

---

Similar abstracts:

• Abstracts: Public set to plug in for power choice. Electric choice program is slow starting. Duquesne Light wavers on merger
• Abstracts: Canceled contract reduces Pa. firm's earnings. Health-care firm looks to the long term. HMOs posted losses totaling $768 million last year, study finds
• Abstracts: A warehouse club for gas and power. More confusion on electric competition
• Abstracts: Airline policy gains support. Extreme makeover for airline. Fledgling airline finally making profitable flights
• Abstracts: Criticizing how the cookie crumbles. Mayor: Nabisco factory likely to close. Bits and pieces

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.