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Philip Morris

Date: 22 Apr 1994 (est.)
Length: 2 pages
2046936785-2046936786
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Author
Greenshields, A.
Reinhardt, U.
Area
NICOLI,DAVID/OFFICE
Type
NEWS, NEWS ARTICLE
Site
W6
Request
Stmn/R1-072
Stmn/R1-079
Named Organization
FDA, Food and Drug Administration
Health Industry Mfg Assn
Medtronic
Minetec
Novacor
Pathfinder Venture Capital
Stanford Univ
Star Tribune
Univ of Mn
American College of Thoracic Surgery Con
Baxter Healthcare
Named Person
Adler, S.
Burlington, B.
Cosentino, L.
Greenshields, A.
Magazine, A.
Portner, P.
Stinson, T.
Document File
2046936725/2046937271/Missing
Litigation
Stmn/Produced
Author (Organization)
Pathfinder Venture Capital
Princeton Univ
Master ID
2046936726/6992
Related Documents:
Characteristic
ILLE, ILLEGIBLE
MISS, MISSING PAGES
Date Loaded
05 Jun 1998
UCSF Legacy ID
aon65e00

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' ' t=XpGr ta 0ay L ..., ., .. . _ _ ~ partly to blame for industry's dedilne: Coatlaued troat ps;. l A Wl= ,re ate dois& acardJaS to oorposate Ieades sad ecoaomiats, is slowly souoezias a Ytbssnt in~ witb a oombiaatioa af hesvr raayl,attoa, belt•ti;hteaia~ b~~r bst~aae eurkis and a V.S. tsW rystca~ tJat p~sssshec ell but a pes>~t reoattl in a wasld whtre perfection es ~poGil`b1E. "it deeaa't talce:aush in teUTO of stncauluion bY tioa or wroat- huded goliCia b~you lose to iadttstty," ssia Alaa Ma;azi9e. ~rtsi t of tbe Ha~titA 1~dt~ Ct<irer's tissociattaa, a tmde ;Z+oup sepscse~~ US& compulei; employsei 350,COi1 wortmm ia contrast to 8ttsope and Jgm. wberr braltb iasAtsaae plans oitrn pty for tee4" protaidn; new , tbe marlcet tbr new madus~t deviees in the itaited SIStra is lisaited Ierfair to FD"pprorec! tnatments only. Dr. Stvart A3ler, a Uaiversity of ~ MWaesots ardiolo0t, said iiasast ewry auh he's on the phcar "oG uvtuee<tainuy to persuade Medusre o2dSle to p:Y tor stataokho-an daSbsilLetors or otiet' deviaa: stilt e,ottddrr0d experimeatal hete but widely uwd 3a Etuope or Asia. "T6o doetor oa the other esd of the line tat Medieuey wyi, '! sires with you, Ison with you,ts awith ~ 10 ~vdrds~, "78 t~brroltt~c we ®taaot pay tor aa iavestiawwoaal dMioe oad, thllidote, we wost11 pay To be sure, tbe U.S. iodustty is ettill• ~ 8ut g,iowtk rues dre ~tuslly bi;bet overs4u. Aad taaaY aaaiyits Uy tbu, withottt pomecion, we Wi113ee a dot:sdnio dedine withia the aext dcaade. Thc i~adirs~ this dedi co sra At ttst atoath's Aatdrieatt C*legc of 'Y'ltorreic 8 rc~mferease io Now Yerk tb.e,ezlu''an bsIl was dolQhucd t:y de+ioet aos Yez CStby s. FDA Eor use ia the "Unless we do tvmethutt, ~ teahaolop will to eluwbcre. It wili bc a dirastsr !br tts," st:d Peer Pormrr, praidwt ofthe Novacor divstiva of 8axtts Htalth C3ure Cosp. Rae a Frofe:for at Sttabrd ` Uaivaaisy. l~aatee c.biefezeeuti n;va Louu Cosoatiao batee tha thou~ht of tsra; F.nr~opeenc atter la~i oj~' Atneriraas. But vAthout expantiia; ia Lew, eke itiuresots eosnpiu¢y eVoY1d lose i teeali Zbitlaa¢ }o ialei + aad rulc lmiai its rep~uatca a a lauler in its fiekL ~iimtte canuot sdotti to E~ead miiliont of doIl~ oa des,!'is»i, nuildi~ afui test~; nevr prodects ia the tlaited Ststei astd•• Without maldnf s r,ioaic SLk - wait ~n; ts t~Yurs for tpproyatt Cosc.nttb~iao does not ob'ect to ciaorow tion. 8ut be , saoro ti'~ieamid t. ~at A resulatioa, be said, is icwip; "In our business, it there are serious clinlcaW studies that need to be done, you go to Europe. !f someone says they want to do clinicElS in U.S., you know they're out of their minds," 4' - Andy 4r*anshl.tdt, C~, Pathltnder Venture Is "You're tuto'ring your compe#ifors. I never un- derstood why Americans do that but that's what they.do (by investirig in forelgn reseaxch,, devel- opment and manufacturing]." - uw. ~t.1~t,ard~, .ee~wasYa, !hlrtosbe ~alwnity Atasrisaa eetorprisa wbile denying p bly eitxtiye treataneat to Padem Tha 1E'DA wdsY lus a backlaj ot sotne $,004 produtt eppliptjons. Not onty does ttA ,FDA k.bp beiza= pFroved uCts from ta tbe rrttsd SsAtes, the ageac~r ~so bars ~epart ot taost ttwplxoved raedust praiuaia ~cven to ootwttiat'wlxta the pr+od= bive IINW app~~ medirsl usa by L?r. firticx surlin;ton, direotor ofthe Mi device divis3oo, said tbt u ttyia; to speed approval ~yatvcuariy kr tlsose devues thst provide litastvta; tlterepy,. DwpitE,osoe pro;ress, the wal :cmetai laaS eaottih fot maar aomy~uaies to be op~1y 5W&&taCL Many c=g*aies:ay, ab~ey Ss practiasliy beiaz iawsted by tbe U.S. Pvtran3ebt to esetb4ih ti'seiTCJi eaata~, ~atorfrs aaed diivibttdoc caate:~c m othat'counffip. 'Wtsst's really imitatia,L me is We'rz ullaa; about'1ob'st Jobs, jobr' aad b°" V/Seha~aaa pe~°aa~aS es.rs~aadt jobs adraaaed m~icetia; jobs," sud Pt~sbfla~ds~r V"~' ~~ M3aaeaota i"itta thu cpedaLus in raieiru capital for mem'aL,zae6no~y ~oasas~s. . Mtmteo i: s easa in t oa= it cboaris a Dutob ot eI&n loesdoa, Cosaiaao expects te Vart with 10 eraploYeos snd;tow to abotit SO wit&ist l S moatbs. "We wi3t be makiaLand Wroduciag our ptoduats ottuide the tlnited Suus before we do anywbha=lure," Cneent3ao taid. `Tfl have to pvt morm ttwao. kitt,ot tba:~r ja~ iato ~urope to prouCS tbe eompaay." COseatioo`: not tbe oaly oae. The 8tu Tn'buae swv+ey ot Minaeaaca snerdiul ~deriee malttse fouad emaspWus tbat•saitea produets Fucb as hatt pacemAkt'es,lydid:zey dialysis aQetipsneat aad orthopaedie impiaats *isidy ara expandiab outside the uaited Smta, fasoar Wn in Mitistswts =ad atpeet to set tlte tsr" aaelr.m in the ttetet five , y.ars. More tbaa a tbird of time S 1 WAnufoia IDad•i0f,~i ~epstti0i alwdy We k3Hp+owiat ~pq~tpt~ putsids the vait~d Sute~. 'I'be sutvey foLttsd 18 ofthue 1wliag-.dpe r.*mputies hare iarsetamd Wir yayrollt by d« pesveas in bfimsaats , over the last frn yrm, wh3ae ovescses hirn:i br tbete compaaier =elted 191 petw= In tbe nrxt Svs yput, exravtives of tbaia finsu racp.at taeir Mianewta P&yroals to eeatiaue tflw ~a avaap af S2 p.rtrat. uS t~ro wiasaaac9onsw parratu Rt tizeoe es•ae ~to wv 115 alo eapeas ta gmaploy ~o.rem~to~a ~ ca T,3Q0 employ.s ostti3de tbo tt6tcd Sutae -• up from 407 in 19i9.
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MW tsceutim dud a mwte pvocsbie tqvAstm aliuu tmd C1C`t to C{3dt!lyt0ii as tlt0 't'o }YdoGf ft! CiL"iSL7s j. p4is>j 6+CtO6ti fnd teteiRh a~atiers tbausradi af mSles fi'om boeae. Ths stts'Ney LadiGifOd thst htsltet Pidts oz lowes ooata woce, st 33m; seCaaGbwy Cntitl4rstiQlls 3a =W=4iag bepnd U.S. borders. Camfdse Msduoaic, s Mionerars maw of Ci[di3C pse-li' cqaipmeat aad hesn vs?ves,At t ~t ~e 6rii i ~14i7 ~ o~t MysnrirhL tbe xDtbwlswds, MsAd•uozio nezt Xtas eupaeta to bsve ` 117 peopis worla~ oe am pre4uww 'iheu tssLies hsvs am.a shoa harSold ta tb. Lri seren yWs. May o!' MactQopic't most i,asavsdvo producti, dtsigaod tv halp tbe s.te bei~osY ~dcv~elo~pad ia ~m ~~ ca~p ~'sordftrrma co ovaoamias g+aandAeooa Ettt+apesa satei now npteseat 34 pen;at oMedzsoafa's savanuea s,ad Q"Oa'tb ia VJYM bi.t W ovuOppad ttowtk b the mted Stttrs, fl•am T9i3 to t 943, tala zrew sa svenye 27 puneat moslly st Meduaak ~ • ISpEWOM erneatLr.S~ana the p"Mrsays ova the am period. 7li1 quict ttW 7uaoms t,bie rssss's h4b-tevb dGYicc m,astsafteumr: w su but aetped pubUe noties. Snt it distnrbs I;diaapots ezoaoatists. "if yoa fom tbtm to do the maatttsoturia~ or tatia~ ouusdc tha U.~., t~en yott ste~ ~oin so ove~ limt nsdera~ina tbs bali~l o~t~e doeneuio iadum," ssid Tota Stiasaa, W-1101 pU itLtC,CWn083isL "4bvioatiy, ft's aot s pu2iculittY ' d~raDk positioa tb! thii iadustty, wbk.h is oas of otu;roash scotoss sad a ioduetry w1 hope u foia; to flowEahin e1u 7istceataey.' 0 07 . w 07 ~ 00 ~

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