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Pfizer: Counterfeit drugs pose a threat to safety

July 31, 2006

At a time when more people are looking to save money on prescription drugs, their exposure to counterfeit drugs is rising, says Pfizer’s head of counterfeit intelligence.

Phony medicines are increasingly making it across U.S. borders, often via Internet sales, and creating a threat to consumer safety, says John Theriault, a former FBI agent who now serves as the vice president of global security for Pfizer Inc. Occasionally, the phony medicines even make it into the legitimate sales stream.

“The Internet is pretty much an unregulated flea market,” he said.

The safety of consumers is at risk as global drug counterfeiters become more sophisticated in the manufacturing and marketing of replicas of such blockbuster drugs as Viagra, Lipitor and Norvasc, Theriault said.

They’re coming from everywhere, he said.

The World Health Organization estimates global sales of counterfeit medicines at $40 billion this year. The Center for Medicines in the Public Interest in New York predicts that counterfeit drug sales will reach $75 billion globally in 2010.

The reason for the projected increase in the United States: drug costs increasing by double-digits annually at a time when many Americans are becoming responsible for more of their own costs.

It makes for a tempting market for criminals who counterfeit drugs, Theriault said.

It’s forcing Pfizer to add to its global team of investigators.

Currently, the world’s largest drug maker employs about 15 counterfeit investigators, but Theriault is in the process of adding a handful more in the booming counterfeit hubs of China and India.

Theriault spoke to the Detroit Free Press last week during a visit to Pfizer’s Ann Arbor, Mich., research hub.

The U.S. drug supply remains one of the safest in the world, Theriault said. Still, consumers must be vigilant as they shop for low-priced drugs, particularly on the Internet, Theriault said.

Counterfeit drugs are often sold by Web sites that claim to be legitimate pharmacies based in the United States or Canada, Theriault said.

But the contents of the drugs vary. Some contain active ingredients, but others contain no active ingredient or even harmful ingredients such as boric acid.

“Congress always asks, ‘If this is such a big problem, where are the bodies?’” Theriault said. “But if someone believes they are taking a heart medicine, but it has no active ingredient, we say that is a threat. We’re trying to raise awareness so we don’t see a lot of dead bodies.”

Many times fake drugs look just like the authentic product. But sometimes there are subtle differences that consumers should be on the lookout for, Theriault said.

For example, the shape or color of a medicine may be just slightly different in a counterfeit, so patients should pay attention to make sure the pills all look the same, he said. Packaging colors or printing may differ slightly as well. Or the box may not contain patient safety information.

The message, Theriault said, is: “Know your medicine.”

David MacKay, a Winnipeg, Canada-based consultant to Online Canadian Pharmacies, said the existence of counterfeits in foreign markets shouldn’t scare consumers away from using online or Canadian pharmacies. It just means consumers need to do their homework, he said.

Customers should make sure any online pharmacy they plan to use requires a prescription and has a street address, he said. They should also verify an online pharmacy’s license name and number with the state, province or country in which the pharmacy operates.

“At times, the pharmaceutical industry likes to wag its finger at consumers with some scare tactics” to keep Americans purchasing their drugs at home, MacKay said. “Legitimate pharmacies in Canada are just as much interested in safety as they are.

“There are licensed and legitimate Canadian pharmacies that provide perfectly safe medicines,” MacKay said.

Theriault agreed. Pfizer thinks the drug supply in the United States is safe, he said. Canadian storefront pharmacies are also generally safe, Theriault said.

But consumers need to be aware that when they purchase drugs on Internet sites that say they’re based in Canada, it could be that the sites are actually drug warehouses in another country, he said.

Occasionally phony drugs make it into mainstream U.S. and Canadian drug stores, but it’s still rare, Theriault said.

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Alison Lake: Importing prescription drugs is not the solution

July 28, 2006

BALTIMORE - Baltimore Mayor Martin O’Malley announced recently in his gubernatorial campaign that he will consider buying prescription drugs from Canada and abroad as a way to reduce health care costs for Marylanders. But that policy can potentially harm both consumers and the economics of drug creation and sale in the United States.

Those unsolicited and poorly worded offers for Cialis and Viagra in our e-mail inboxes say it all.

Drug re-importation is one situation where the invisible hand will not solve the problem. The key prefix is the “re-� in reimportation. The United States develops, creates and produces the bulk of the world’s drugs. Foreign governments legally purchase drugs from American companies at discount prices and then set their own prices at home (translation: price controls). Were Maryland to allow drug re-importation, American firms would continue to assume the worldwide burden of drug research and development but at a profit margin that did not take those efforts into account.

And how does Mayor O’Malley plan to ensure that drugs coming in are safe? This policy move cannot just be made in isolation. Federal approval is required. Further, when American-produced prescription drugs make their way back into this country, they will have passed through multiple hands, increasing the risk of tampering and counterfeiting.

To guarantee drug safety, the Food and Drug Administration would have to investigate (and test) drugs for tampering and counterfeiting, which would create a heavier government and taxpayer burden and ultimately a less favorable environment for the creation of effective medicines. The FDA does not regulate drugs obtained in foreign markets, and describes the medical and economic drawbacks of using these drugs on its Web site.

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Randall W. Lutter, Ph.D., FDA’s associate commissioner for policy and planning told this to would-be re-importer Steven M. Saxe, director of the Washington State Board of Pharmacy: “FDA is very concerned about the safety risks associated with the importation of prescription drugs from foreign countries. In our experience, many drugs obtained from foreign sources that are represented as U.S.-approved prescription drugs are of unknown origin and quality.�

By law, if a prescription drug is originally manufactured in this country and exported, only the United States manufacturer may import the drug back into the United States.

In order for O’Malley to push through what he proposes, he would need to obtain a waiver from the FDA, which is unlikely due to the agency’s consistent refusal to approve such applications elsewhere in the United States.

The FDA is aware of patients’ concerns about access to effective, low-cost medication. Lutter said the FDA is working to change “our regulations to reduce litigation that unnecessarily delays access to more affordable generic drugs, and doubling the annual number of generic drug approvals over the last five years.� As an alternative, in the meantime, numerous direct patient assistance programs exist to help mitigate costs for consumers, such as those administered by Lilly, Pfizer and the Partnership for Prescription Assistance in Maryland.

Living in America is a trade-off where the prescription drug market is concerned and not necessarily a good one. We have a broad range of effective, cutting-edge choices, but many essential medications are pricey because we shoulder the majority of research and development worldwide. As a result, right or wrong, we aren’t just paying for the pill itself; we also pay for its years of testing and research and for pills that never reach the market.

But buying medicine from abroad is not the answer. The regulatory machinery that would be required to ensure the safety of imported medicine would be expensive, lengthy to create and erase any potential price benefits. The problem of high drug prices can only begin to be solved when other countries start to devote more funds to research and development and pharmaceutical companies here price brand-name prescriptions more consistently.

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Pfizer Delivers Strong Second-Quarter 2006 Results, Driven By Performance Of Major In-Line And New Products

July 24, 2006

Pfizer posted strong second- quarter 2006 financial results, driven by higher sales of both in-line and new products.

“We achieved strong operating performance in the face of increased generic competition and revenue losses due to patent expirations,” said Hank McKinnell, chairman and chief executive officer. “Our latest results show that we are consistently and successfully meeting the challenges we face, in particular offsetting loss of exclusivity for several of our products with solid growth from in-line and new products.

“We said in the beginning of the year that 2006 would be the year when we begin to substantially offset loss of revenue due to patent expirations with growth from in-line and new products. We understood the scope of the challenges we were facing, and we realized that we had set ambitious revenue targets for the full year for some of our key products, in particular Lipitor and Celebrex. We said we expected a return to revenue and adjusted diluted EPS(1) growth in 2007 and beyond. I’m pleased to report that we are making substantial progress in creating the next-generation Pfizer.

“Our second-quarter 2006 performance is quite encouraging. Lipitor, the largest-selling medicine in the world, achieved 9-percent revenue growth in a very dynamic market, as we continued to demonstrate the medical and economic benefits of Lipitor derived from its excellent efficacy and safety profile. Celebrex, Geodon, and six other major in-line products each delivered double-digit revenue growth in the quarter. Particularly impressive was the robust performance of two of our new products, Lyrica and Sutent, evidencing their rapid acceptance by physicians and patients.

“Second-quarter 2006 performance exceeded our expectations. Our outlook for the full year has similarly improved. Previously we had projected full-year 2006 adjusted diluted EPS(1) for Pfizer Inc of about $2.00, which, after reclassifying earnings from our Consumer Healthcare business to Discontinued Operations, is now equivalent to about $1.93. We now estimate that even with the sale of the Consumer business and notwithstanding the dynamics of our operating environment, we will achieve our previous expectation, in effect about a seven-cent improvement in our projected full-year adjusted diluted EPS(1). At current exchange rates, we continue to target a return to revenue growth in 2007 and average annual growth in adjusted diluted EPS(1) over 2007 and 2008 in the high single digits.

“During this transition period, we have taken a number of important measures to enhance shareholder value. The recent agreement to sell our Consumer Healthcare business is one more component of that overall strategy. This divestiture will help us to focus on what we do best — discovering and developing innovative medicines. We see enormous potential in healthcare as a growth industry in the long term. A large amount of our projected cash flow, including the proceeds from the sale of the Consumer Healthcare business, has been earmarked for investment in business-development opportunities, further bolstering the enormous resources we are bringing to bear on our core business.

“We have a broad presence in the healthcare industry, with important medicines in many major therapeutic areas. We continue to look for the most innovative products to fill gaps in our portfolio. In the last 12 months alone, we have signed agreements with nine companies to license or acquire late- and early-stage candidates or technologies to find treatments for diseases ranging from diabetes and infection to ophthalmic disorders and diseases of the central nervous system. We plan to step up our business- development activities with targeted acquisitions to supplement the strong pipeline of products we already have.

“Pfizer is losing about one third of its Human Health revenue due to patent expirations between 2004 and 2008. Many companies could not survive such a profound loss of revenue. The strong performance of our in-line product portfolio and the large potential of our new-product pipeline demonstrate our ability to generate substantial new revenues to create the next-generation Pfizer,” Dr. McKinnell said.

Human Health Reports Double-Digit Revenue Growth in Many Key Products, Growing

Momentum in New Products

Commenting on second-quarter 2006 performance, Karen Katen, vice chairman of Pfizer and president, Pfizer Human Health, said, “This is a year when performance requires strategic balance and operational execution, and I am pleased to report that things are going well. Performances of many of our in-line products are impressive, and the newest products are delivering robust revenue growth, offsetting ongoing revenue declines due to patent expirations.”

Ms. Katen attributed the second-quarter 2006 performance to a number of factors. “We realigned our Human Health business along therapeutic areas last year, and we are beginning to see the benefits. Since the reorganization of our U.S. field force, we are seeing renewed focus, enthusiasm, and activity. We have devoted significant attention to operational excellence, and this helps our performance when our products are already supported by vast amounts of clinical data establishing their efficacy and safety.”

Worldwide Human Health revenues for the second quarter of 2006 were $11.0 billion, an increase of 3 percent compared to the second quarter of 2005. In the U.S., Human Health revenues were $5.8 billion, an increase of 7 percent. Excluding the revenues of major medicines that have lost exclusivity in the U.S. since 2004 as well as the revenues of Bextra, which we voluntarily withdrew in 2005, Human Health adjusted revenues(3) grew 7 percent worldwide and 13 percent in the U.S. for the second quarter of 2006 compared to the same period in 2005. In addition, the unfavorable impact of foreign exchange on Human Health revenues was $195 million, or 2 percent. Excluding the impact of foreign exchange, Human Health adjusted revenues(3) increased 9 percent worldwide.

Worldwide sales of Lipitor in the second quarter rose 9 percent to $3.1 billion, reflecting solid growth in Europe/Canada and double-digit increases in Asia. In the U.S., sales reached $1.9 billion, representing 11-percent growth over the same period last year.

“We are targeting Lipitor sales of about $13 billion this year, a stretch goal in light of the recent introduction of generic simvastatin in the U.S. as well as other competitive pressures. While our Lipitor sales target remains ambitious,” said Ms. Katen, “we believe we can achieve it. We have a strong clinical platform that clearly differentiates Lipitor from all other agents.”

Most recently, data from the Stroke Prevention by Aggressive Reduction in Cholesterol Levels (SPARCL) clinical trial in stroke prevention were presented at the European Stroke Congress in Brussels, with publication pending in a major medical journal. Based on evolving clinical evidence, including landmark Lipitor studies (ASCOT-LLA, TNT, and IDEAL), the American Heart Association and the American College of Cardiology now state that it is reasonable to bring LDL-cholesterol levels to below 70 mg/dL for very high- risk patients, levels that Lipitor has been proven to achieve within a favorable safety profile along with providing incremental cardiovascular benefits for patients. In addition, a pre-specified pharmacoeconomic analysis of the IDEAL study showed that one out of every six heart attacks, strokes, or cardiovascular procedures could be avoided for heart-disease patients treated with intensive Lipitor therapy (80 mg) instead of standard doses of Zocor (20- 40 mg). These data make a compelling case for looking at the value of Lipitor in a way that transcends pill-to-pill cost comparisons with generic statins.

“We are working with our customers — payers, healthcare providers, and patients themselves — to ensure patients get the best medicine and have broad access to Lipitor. We live with market realities on a daily basis, and patients are very much our focus,” said Ms. Katen.

Celebrex worldwide sales reached $471 million in the second quarter of 2006, representing growth of 17 percent over the same period last year. Sales in the U.S. reached $355 million for the second quarter, with 16-percent growth. We continue to expect full-year Celebrex revenues of at least $2 billion, an ambitious target given the ongoing pressures in the arthritis market.

Worldwide sales of Geodon increased 14 percent in the quarter to $165 million, driven by the better understanding by clinicians of its efficacy, increased benefits from optimal dosing, and favorable metabolic profile. We continue to expect full-year Geodon revenues of about $800 million.

Ms. Katen said that the performance of new products in the second quarter of 2006 is demonstrating the company’s success in creating the foundation for Pfizer’s next-generation portfolio. “The performances of many of our new products exceeded expectations,” she said.

For example, Lyrica worldwide sales reached $271 million in the second quarter of 2006, reflecting strong market acceptance by physicians and patients since its initial launch nearly two years ago. In the U.S., Lyrica had $172 million in revenues for the second quarter of 2006. The product is on track to exceed its original revenue target, with worldwide revenues now expected to be more than $1 billion in 2006.

Lyrica continues to perform strongly in markets around the world, with a 13-percent share of total anti-epileptic-drug sales in Europe as of April 2006 (IMS). In the U.S., Lyrica performance has been robust, with new prescriptions continuing to grow steadily through the second quarter of 2006 to reach a 9.8-percent share of the total anti-epileptic drug market in June 2006 (IMS). Lyrica also holds around 30 percent of new prescriptions within the U.S. market for diabetic peripheral neuropathy and post-herpetic neuralgia as of May 2006, and contributed significantly to the approximately 30-percent growth of this market since the Lyrica launch.

During the first half of 2006, Pfizer’s oncology portfolio achieved robust growth in the U.S., driven by the successful introduction of Sutent in January 2006. Early market acceptance for Sutent in the U.S. has been strong based on its compelling clinical value, with more than 6,000 patients already prescribed Sutent in the five months following its approval. Sutent has received accelerated regulatory reviews and earlier-than-anticipated approvals or registration in several countries in Asia and Latin America and is expected to launch in many more markets worldwide over the coming months.

Pfizer has launched or will launch three new products this summer in the U.S. — Eraxis, Exubera, and Chantix.

Eraxis, an antifungal agent for candidemia and other forms of Candida infections as well as esophageal candidiasis, was made available to patients in mid-June 2006. Eraxis is an important addition to Pfizer’s array of anti- infective agents.

Exubera, one of the most significant innovations in insulin delivery since the introduction of insulin 85 years ago, represents a profound medical advance that offers patients a novel method of introducing insulin into their systems via the lungs. Long-term efficacy and safety data in both type 1 and type 2 diabetes support Exubera as a valuable new option that, when used as directed, could lead to better blood glucose control and potentially reduce the debilitating and costly complications associated with the disease. Exubera was launched in Germany and Ireland in May 2006.

In the U.S., the comprehensive physician and patient education and training program for this landmark innovation in diabetes treatment will begin on July 24, 2006, and will be rolled out in phases. This will include training and demonstration of the proper use of the insulin delivery device and drug for physicians, diabetes educators, and other healthcare professionals. To further support patients and healthcare professionals in the treatment of diabetes and the appropriate use of Exubera, Pfizer is also providing a 24-hour-a-day, 7-day-a-week call center staffed by healthcare professionals.

The manufacturing process for Exubera is extremely complex, and working at production capacity at its manufacturing facilities, Pfizer continues to build inventory. “Our education programs and manufacturing preparations are time- consuming, but we are taking the time necessary to do the job right,” said Ms. Katen. “We are working to meet not only initial demand for the medicine, but also continued demand from prescription refills. Earlier this week, we held our nationwide launch meeting with our field force. Initial supplies of Exubera will be available across the U.S. beginning in September.”

Chantix, the first new prescription treatment for smoking cessation in nearly a decade, will become available to patients in the U.S. in early August 2006, following accelerated review by the FDA. Chantix will be distributed with a comprehensive patient-support program designed to help address the behavioral components of smoking dependence, including personalized on-line and telephone interactions to support smokers through their efforts to quit. Clinical studies show that Chantix significantly increases the likelihood that smokers will quit, compared with the most commonly used prescription medication and placebo.

On June 21, 2006, Pfizer received an FDA approvable letter for Zeven (dalbavancin). Pfizer is working with the FDA to resolve an open issue with the CMC (Chemistry, Manufacturing, and Controls) section of the New Drug Application that was filed by Vicuron Pharmaceuticals. We now expect approval and launch of Zeven in 2007.

Rich Pipeline Continues to Advance

“As part of our ongoing efforts to bring innovative new medicines to patients around the world, we achieved some significant milestones during the second quarter of 2006,” commented Dr. John LaMattina, president of Pfizer Global Research and Development.

In addition to the four new products already approved this year, Pfizer is on track to expand its portfolio with additional new filings and advancement of late-stage compounds. These include fesoterodine, a new drug candidate for treating overactive bladder, which is under review by both the FDA and the European Medicines Evaluation Agency. Pfizer recently completed the acquisition of worldwide rights to fesoterodine from Schwarz Pharma AG. Fesoterodine is expected to provide an additional choice for managing the symptoms of overactive bladder, a debilitating condition that affects up to 100 million people around the world.

Maraviroc is an HIV entry inhibitor that selectively binds to the CCR5 receptor — the primary gateway that HIV uses to enter uninfected cells. Clinical trials in both antiretroviral-na??ve and antiretroviral-experienced patients are ongoing, and we continue to target an NDA submission in treatment-experienced patients by year-end 2006.

Work continues on the $800 million clinical development program for torcetrapib/atorvastatin. We anticipate completion of three ongoing imaging trials by the end of this year. Assuming that we see the expected improvements over the comparative agent — Lipitor — in these imaging studies, we will file the torcetrapib/atorvastatin NDA in 2007. The clinical program also includes a comprehensive array of lipid-effect studies to better understand the CETP mechanism and its impact on HDL-cholesterol function, and a traditional morbidity and mortality study.

Pfizer has also entered into an agreement to acquire exclusive worldwide rights to Bayer Pharmaceutical’s DGAT-1 inhibitors, an innovative class of compounds that modify lipid metabolism. The lead compound in the class, BAY 74-4113, is a potential treatment for obesity, type 2 diabetes, and other related disorders. The compound is currently in Phase 1 clinical development.

The integration of Rinat Neuroscience Corp., Pfizer’s latest biologics acquisition, is proceeding rapidly. Development projects include RN1219, a humanized monoclonal antibody for Alzheimer’s disease, and RN624, a monoclonal antibody for chronic pain that inhibits binding to nerve growth factor.

More than 100 studies from Pfizer’s extensive oncology portfolio were presented at the 2006 American Society of Clinical Oncology meeting in June. Data were highlighted on several oncology products in the pipeline, including two immunotherapy agents, CP-675,206, an anti-CTLA4 monoclonal antibody in Phase 3 testing for metastatic melanoma, and CP-870,893, a CD40-agonist monoclonal antibody. Both of these pipeline compounds work through enhancing the immune system to better fight tumor cells. Other pipeline agents presented during the meeting include axitinib (AG-13,736), a novel oral anti-angiogenesis inhibitor, and CP-751,871, a monoclonal antibody that blocks the insulin-like growth-factor 1 receptor and is being studied in multiple myeloma and other forms of cancer.

“We continue to pursue new opportunities for growth,” Dr. LaMattina said. “Our goal is to complement Pfizer’s internal research and development efforts with high-potential, externally sourced product candidates and technologies. We have a very strong presence in many major therapeutic areas, but there are gaps in our portfolio that we are looking to fill. A new area where we are expanding aggressively is in biologics, large-molecule approaches to treating disease where small molecules are not available or effective.”

In just the past twelve months, Pfizer has acquired one recently launched product (Eraxis) and one late-stage product candidate (Zeven) through the acquisition of Vicuron Pharmaceuticals, obtained full worldwide rights including patent rights and production technology to manufacture and sell Exubera from sanofi-aventis, obtained worldwide rights to fesoterodine from Schwarz Pharma, acquired Rinat Neuroscience Corp. with several new central- nervous-system product candidates, acquired Bioren with its unique capabilities in discovery of monoclonal antibodies, and reached agreement to acquire several compounds for treatment of obesity and diabetes from Bayer. We have also entered into promising research collaborations with NicOx S.A. in ophthalmic disorders, NOXXON Pharma AG in obesity, and Incyte for CCR2 antagonists for use in a broad range of diseases.

Increasing Shareholder Value Now and For the Long Term

David Shedlarz, vice chairman, noted that the strong second-quarter 2006 operational performance was complemented by ongoing initiatives on behalf of shareholders. “The Company continues to achieve strong cash flow from operations, which is expected to exceed $16 billion in 2006. At the same time, we are taking significant steps to enhance Pfizer’s financial flexibility to successfully unlock shareholder value, such as our agreement to sell the Pfizer Consumer Healthcare (PCH) business to Johnson & Johnson for $16.6 billion.

“Pfizer’s strong projected cash flow from continuing operations over the next 30 months and the expected after-tax proceeds from the PCH sale of about $13.5 billion will together amount to approximately $34 billion, after capital expenditures and dividends. We will use those resources to focus on our key strategies. Our highest priority will be to acquire products and technologies that will drive long-term growth of the business. Pfizer has allocated over $17 billion over the next 30 months for such acquisitions. We will deploy our vastly enhanced financial resources to respond to the fast-changing healthcare market, where our future depends not only on discovering and developing new medicines, but also on how we communicate and reach out to physicians and patients to ensure their access to our products, and on providing treatment solutions — from enhanced diagnosis through treatment to behavioral support programs for patients.

“At the same time, we will work to improve shareholder returns through actions such as our recently expanded share-purchase program of up to $17 billion in 2006 and 2007. We strongly believe that the purchase of our stock is a compelling investment opportunity. We expect to purchase up to $7 billion of the Company’s stock in 2006 and up to an additional $10 billion in 2007.

“Pfizer continues to improve its profitability through cost reductions and the Company’s broad-based Adapting to Scale (AtS) productivity initiative. AtS cost savings in the second quarter of 2006 approximated $500 million. We continue to expect cost savings in excess of $2 billion for full-year 2006, rising to about $4 billion in 2008, notwithstanding the prospective divestiture of Pfizer Consumer Healthcare,” Mr. Shedlarz concluded.

In reviewing second-quarter 2006 results and the full-year forecast, Alan Levin, chief financial officer, said, “This quarter’s results reflect a solid operating performance with robust revenue growth of many key in-line and new products, further leveraged by tempered operating expenses in adjusted income(1). Second-quarter and year-to-date results benefited as well from a number of seasonalization factors, including the impact of production variances and geographic mix on cost of sales, the timing of promotional expenditures for new-product launches and of expenditures for research and development programs, as well as the effective tax rate. In the second half of 2006, some of these factors are expected to reverse direction: We anticipate higher operating expenses during the next six months. And our effective tax rate on adjusted income(1), which for the full year is expected to be 22.5 percent, reflects a higher rate in the second half of 2006 compared to the first half of 2006, when we benefited from certain favorable changes in the tax law.

“Reported diluted EPS of $.33 for the second quarter of 2006 declined relative to the second quarter of 2005, reflecting approximately $1.1 billion ($.15 per share) in prior-year, nonrecurring tax adjustments, which were composed of a reduction in the tax provision related to the repatriation of foreign earnings resulting from revised U.S. Treasury guidance, as well as tax benefits in 2005 from the resolution of certain tax positions.

“Our full-year financial outlook for 2006 remains largely consistent with, or favorable to, the performance benchmarks we established at the beginning of the year, adjusting for the treatment of PCH as a discontinued operation. Of particular note are our expectations for 2006 adjusted diluted EPS(1). Our prior guidance of “about $2.00″ is equivalent to about $1.93 of adjusted diluted EPS(1) after reclassifying earnings from PCH to Discontinued Operations. At current exchange rates, our current outlook for adjusted diluted EPS(1) (excluding PCH) is now about $2.00, an improvement of about $.07. This improved expectation reflects the strengthening of major foreign currencies relative to the U.S. dollar, reduced full-year expenses, and an increased level of share purchases. At current exchange rates, we are targeting achievement of our revenue goals for Lipitor, Celebrex, Geodon, and Lyrica and continue to expect 2006 aggregate revenues to be comparable to overall revenues in 2005. We continue to target a modest improvement in cost of sales as a percentage of revenues as a pre-tax component of adjusted income(1) this year. Also, primarily reflecting the reclassification of PCH results to Discontinued Operations, we now expect expenditures representing the R&D and SI&A pre-tax components of adjusted income(1) to approximate $7.6 billion and $15.4 billion, respectively. We now expect reported diluted EPS of about $1.60, excluding a substantial, prospective gain on the sale of PCH.

“At current exchange rates, we continue to target that revenue growth will resume in 2007 and that the average annual growth in adjusted diluted EPS(1) will be in the high single digits over 2007 and 2008. Of course, our guidance is subject to the cautionary factors cited in our accompanying Disclosure Notice, as well as those listed in our Form 10-K,” Mr. Levin concluded.

For additional details, please see the attached financial schedules, product revenue tables, supplemental financial information, and Disclosure Notice.

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Letters to the Editor

July 19, 2006

Dear Sir,My congratulations go out to the CedarBridge Academy graduation class of 2006, which was held on Friday June 30, at Ruth Seaton James Centre.
Also the teachers who worked so diligently with the students, which helped them achieve their goals with excellence.
As ? sat and watched the graduates receive their Diploma’s, some with distinction. I felt so proud of them, and knowingly that they will someday be our future leaders.
Some of the professions the graduates are working towards are:
Accountants, actors, artist, computer programmers, computer graphics, doctors, lawyers, massage therapist, midwife, nurses, owning their own business, paediatrician, psychiatrist, psychologist, social workers and teachers.
They will be attending colleges in Bermuda, Brazil, Canada, Venezuela and Hong Kong to name a few.
It was nice to see many businesses, organisations and personalities donate awards, scholarships to the deserving graduates. St. George’sClarify the commentsJuly 8, 2006
Dear Sir,Your report about a savage attack on a Portuguese soccer fan outside of Docksiders and the subsequent comments from our Premier, as well as PLP backbencher Derrick Burgess concerning this attack, has shocked me to the core.
Frankly, I find it hard to believe that Alex Scott and Derrick Burgess actually made the comments attributed to them in The Royal Gazette. Did the Premier actually indicate in his comments that there is no point in talking about capital punishment or corporal punishments unless Bermuda goes independent? Is he suggesting that if we go independent, then the PLP Government will implement capital punishment and – perhaps – have the cat-of-nine-tails brought back? Is this what he meant?
Then Derrick Burgess got into the act and is supposed to have said “the only way you can hang them, you have got to go independent� Does he mean he would hang the attackers of the Portuguese soccer fan? Is he intimating that we should hang people - even if they don’t actually commit a murder?
I always thought that the PLP Government was against capital punishment as well as any from of corporal punishment. Has this changed? If they were quoted correctly, could someone please ask these two gentlemen if indeed they are now in favour of both capital and corporal punishment - I would really like to know. I look forward to a clarification from both of these gentlemen.CAMELOT
City of HamiltonHypocritical employersJuly 5, 2006Dear Sir,I am writing in response to the article on the Bermuda Employer’s Council (BEC) position on the proposed MP salary hikes (published on Monday, June 26). Anyone paying enough attention to the recent statements from the BEC and the UBP lately would have trouble telling the difference between these two organisations on issues such as overtime legislation, the 35-hour week, labour issues in general, and now the MP salaries (and here the UBP displays its decidedly anti-labour bias).
If I may summarise, the (op)position of the BEC to the salary increases stems apparently from a belief that such actions might demonstrate “little or no fiscal prudence�, that might set a “bad example�. Anyone familiar with the huge disparities between the salaries of the ‘employers’ that make up the BEC membership, and their capitalist kin internationally, compared to the salaries of the hired hands who, through their productive labour create capitalist wealth, would be highly amused at this “concern� of the employers. After all, as “leaders� wishing to set “good examples�, shouldn’t they recognise the hypocrisy of their position and remedy the economic inequalities within their own corporations? Fortunately the BEC, through the words of its president, William DeSilva, soon reveal the true concerns of the BEC on this matter. It is not, after all, a concern about a huge salary disparity between government ‘leaders’ and government ‘workers’ per se that concerns them, it is the concern that such a publicly known large and sudden increase of salaries may ‘set a very poor tone for labour negotiations.’ Mr. DeSilva here notes that both the civil servants union (the BPSU) and the police union (the Bermuda Police Association) have already voiced threats of seeking a fairer wage deal.
We realise here that while the BEC directly talks about the MPs being ‘greedy children that continue to beat the piñata until they get the candy they want…’ it is the workers in general who they are referring to here in proxy. How dare the workers campaign for the ‘candy’ of a fair deal in compensation for their labour effort! It is not the salary increases they are concerned with, but with the public knowledge of it, and the ideas that this knowledge will breed in the minds of workers. What if the government workers conclude that government has money to spend, but not the sense to spend it properly, that this money could be better spent on decent wages for government workers?
What if private sector workers draw the same conclusions about social programmes (national health insurance, cheaper, more efficient public transportation perhaps?), or even (shudder) that the astronomical disparity between their wages and their bosses did not correspond to labour effort or even logic? What if the labour movement dared once again to campaign for the radical transformation of society, the full democratisation of political and economic power?
While a case may be made for a comparative pay relative to an average CEO’s salary in the private sector, as one understands the BIU President’s position to be, these positions fail to admit that the MP’s salary is often but icing on the cake for our ‘leaders.’ Many of our MPs, PLP and UBP sit as CEO’s of various companies, or on the boards of the same in token positions, from which they receive handsome ‘compensation’ – so many gold and silver chains to bind them to the status quo, so many pieces of silver for the ‘heroes’ of labour. And even once their active political life is over, how many are guaranteed positions on boards as a token gesture of a job well done? The salary of our ‘leaders’ should be no more than that of a skilled worker, yes, but they must also be accountable like skilled workers.
I agree with the BEC that the salary increases represent a poor use of government resources. These resources would be much better spent ensuring a just and quality standard of living (as opposed to mere survival) for the bulk of government workers, as well as going towards much needed social programs for our people. I challenge the BEC to set a good example for us all and ensure a more equitable, rational and just salary structure in their private sector. After all, those who live in glass houses ought not to throw stones.
J. STARLING
Hamilton ParishProve your worthJuly 5, 2006Dear Sir,I am always interested to listen or read how Alex Scott weasels his way out of tight spaces when he and his cronies are caught with their hands in the till taking more money and adorning themselves with the trappings of power. Pay increases of up to 80 percent with the attendant pension costs (which will go on until the day these people die) drew the following comments from ‘The Man.’
The RG recently reported the following. ‘“It is clear that the BEC President’s (William DeSilva ) statement indicating that matters could be “viewed as� or “seen as� is pure speculation, he said.’ This is a case of the kettle calling the pot black. I am sure if you go back over statements made by ‘P’ whilst in opposition and now as Premier you will find comments like, “I have it on good authority� without disclosing the source, “information has come to my attention’ without disclosing the source, “the UBP could/may be viewed as�, the UBP could/may be seen as�. Pure speculation!
Then further on in the RG report the following. ‘In his statement Premier Mr. Scott added he was “saddened the BEC has tried to link the new benchmark compensation for members and officers of the Legislature to salary negotiations for unionised workers. It is illogical to do so as one bears no relationship to the other�.
Pray tell us Mr. Scott why you think that you are worth an 80 percent increase in pay, and attendant increases in pensions for the rest of your life, and the rest of us are not. You may think that the ‘score card’ you mark for yourself justifies this, but most of the Island have a very different view.
The sickest part of all of this is that the current political climate is what may be described as “controlled�. And yet now we see the PLP trying to say that the Senate cannot rule on this pay increase. Imagine what monstrous disregard for our Laws and Constitution will come about if Bermuda was independent. Actually the situation in Zimbabwe will give you a good insight, and so does the actions of David Burch with the Auditor General.
PHIL CRACKNELL
St. George’sCelebration cut shortJuly 10, 2006Dear Sir,As a Bermudian supporter of Italy in the World Cup, I was elated to see my team win the World Cup.
I decided to watch the World Cup game at Splash nightclub where I knew I would be surrounded by Italian supporters and in light of recent events (the brutal attack on a Portugal supporter). I feel the Police were naturally on guard for any trouble, understandably so!
It saddened me greatly however to finish our celebrations only two hours after the game finished when the Police decided to open Bermudiana Road to the public.
As the Police had closed the nightclub, to my understanding because they couldn’t control the crowd. I saw families with children, people smiling, singing, laughing and dancing. I did not see any acts of violence at all.
I have seen for the last week Portuguese fans extremely proud of their country parading through the streets of Hamilton and I am happy for them. However I am annoyed at the Police for not allowing a peaceful happy celebration to continue. They really killed our joy. In closing I would like to congratulate all the teams and fans alike on their successes in the World Cup and most importantly: Forza Italia Campion del Mondo!
P.s. Thanks to the TV stations for showing the Italian supporters celebrating their victory, not!
ITALIAN FAN
PembrokeNo to sea burialsJuly 10, 2006Dear Sir,Some time ago as I read of the many people that desired to be buried at sea and those that had already had their request granted by their families, I felt it was time for that Law, Act or request to be changed. After reading just recently of a burial at sea and the body floating into the shoreline only to be discovered, unfortunately, by a tourist. (It could have been children playing!!) It was stated that the Funeral Director had followed correct procedure, but we must look at the results and question whether this should be allowed at all because we don’t really know how many others have come up but have not drifted in, or maybe just been devoured by sharks and fish.
No.1 We have so many people dying with so many diseases of HIV cancers, etc. the list goes on and on; it seems very unhealthy. These bodies need to buried in the graves on land as these bags don’t last long and I imagine they are torn apart by the fish or rot and we are eating the fish. I don’t know if I can continue enjoying eating fish, knowing this system of burial exists.
No.2 I read in the Gazette on June 1, where David Saul seemed to come up with a better idea of a metal box which I thought would prove to be more secure; unfortunately I kept reading to be further disappointed which I hope our Health officials take special attention to his words and I quote, “the box designed by (Dr. Saul) and constructed by Mr. Dennis Correia of Correia Construction Company is due to be lowered into its resting place nine fathoms (54 feet) down in Devonshire Bay within the next few weeks. It will be covered in holes small enough to allow the fish inside; the fish have got to get in to enjoy the banquet. They will clean my body right down to the bones and some of them will crush the bones. The bones will eventually turn to coral themselves.� We humans will eat the fish that have eaten him which his body could have been cancerous or otherwise harmful and we never know what can happen.
Those bodies need to be put into the ground in graves where they belong. The fact that it took 19 months to gain permission confirms there must have been some concern and then it does not seem that he is going down as deep as the usual depth required. Please review this Law or Act, because it definitely seems fishy (pardon the pun) or at the very least unhealthy.
RED HIND LOVER
SomersetBecause the Bible says …July 4, 2006Dear Sir,Today, July 4, you did your readers a great service by printing a letter from Rookes enlightening the public that the moral answers to so many of Bermuda’s problems are at their fingertips in the Bible. Rookes is clearly a well read soul, and raised various sections of the Bible; including Leviticus 18 verse 22 as biblical clarification of the “abominationâ€? that is homosexuality.
I’m pleased to find another relying on the Bible to be the guiding light on all worldly matters. Regrettably, my depth of biblical knowledge is inadequate to be certain about how to address all issues. I hope you can allow me space in the Royal Gazette to request ROOKES to clarify some matters of importance:
1. A friend of mine feels that even though eating shellfish is an abomination, as detailed in Lev. 11:10, it is a lesser abomination than homosexuality. I don’t agree. Can you settle this?
2. Lev. 25:44 states that I may indeed possess slaves, both male and female, provided they are purchased from neighbouring nations. Does this require me to travel overseas to purchase slaves, or may I purchase from within the local expat community?
3. I am considering selling my daughter into slavery, as sanctioned in Exodus 21:7. In this day and age, what do you think would be a fair price for her?
4. I know that I am allowed no contact with a woman while she is in her period of menstrual unseemliness - Lev. 15:19-24. The problem is – how do I tell? I have tried asking, but most women take offence.
5. I have a neighbour who insists on working on the Sabbath. Exodus 35:2 clearly states he should be put to death. Am I morally obligated to kill him myself?
6. Lev. 21:20 states that I may not approach the altar of God if I have a defect in my sight. I have to admit that as I age my eyesight is deteriorating. Does my vision have to be 20/20, or is there some wiggle room here?
7. Most of my male friends get their hair trimmed, including the hair around their temples, even though this is expressly forbidden by Lev. 19:27. How should they die?
Thank you in advance for your assistance in helping me address these questions. Your letter showed how you have studied these things extensively, so I am confident you can help.
MICHAEL CASH
Hamilton ParishMacho fishermenJuly 7, 2006Dear Sir,Viagra! Viagra! Viagra!
It’s that time again folks … all those big brave “Marlin Fishermen� have arrived again to set out on their manly quest! I do hope these esteemed and noble warriors are fighting fit!
I’m just so excited, and I can hardly wait to see those proverbial photographs in the paper, and the manly tales that accompany them! You know the ones…where a bunch of portly rich guys all stand around a very dead marlin with stupid grins on their faces?
And the editorial boasts of the “The Fight� and of the “Monsters boated?�
And why not you ask? Why these men have just proved their manhood! They have fought well and slain the beast! Such noble and heroic men these are! Such men don’t need Viagra … or do they?
Why do any of these incredible creatures have to be killed, boys? They aren’t “Monsters� and they are not “boated,� to quote your own silly website, they are killed plain and simple! Why can’t Bermuda lead the way and make it mandatory that these exquisite fish are tagged only? Or does that rob you of your…manhood?

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Viagra-like products draw an FDA warning

July 19, 2006

Some products advertised online as natural alternatives to impotence drugs such as Viagra illegally contain the same active ingredients as prescription medicines, the Food and Drug Administration said Wednesday.

The FDA warned consumers not to buy or use seven of the so-called dietary supplements sold online to treat impotence and enhance sexual performance. The list includes Zimaxx, which FDA testing showed contains sildenafil, the same active ingredient in Viagra. Viagra, made by Pfizer Inc., is sold in the United States only by prescription.

A message left for Herbal Remedies USA, a Casper, Wyo.-based company that sells Zimaxx on its website, was not immediately returned. The FDA has sent letters to the company and five others that warn them about marketing illegal drugs, based on the claims made for the products or their ingredients.

The other products named by the FDA are Libidus, Neophase, Nasutra, Vigor-25, Actra-Rx and 4Everon. Chemical analyses showed the products contain either chemical ingredients that are similar to sildenafil or a second drug called vardenafil, the FDA said. Vardenafil is the active ingredient in Levitra, an impotence drug sold by Glaxo SmithKline PLC and ScheringPlough Corp

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Senate OKs drug imports from Canada

July 12, 2006

The U.S. Senate opened the way Tuesday to let Americans import prescription drugs from Canada, seeking to ease a regulatory ban on cheaper medicine crossing the border.

The plan could help seniors, but local businesspeople whose specialty is finding cheaper imported drugs said they’ll be taking a wait-and-see attitude.

“None of us have any business anymore. Your president has killed it, he’s scared off the old people,” said Robert Lohr, owner of the American/Canadian Drug Club, 1516 Florida Blvd., Bradenton. The company helps connect seniors with lower-priced drugs in Canada.

Lohr is dubious about how much help the Senate’s measure - which still must be approved by a House-Senate conference committee - might be as long as President Bush is in office. Bush has steadfastly opposed importation of prescription drugs from Canada.

The proposal, which was approved 68-32, would create a Canadian loophole in a Food and Drug Administration ban on importing prescription medicine into the United States. It was offered as part of a $31.7 billion Homeland Security Department spending blueprint for the fiscal year that begins Oct. 1.

In November, the department’s Customs and Border Protection bureau began aggressively seizing Tamiflu, Viagra and other incoming prescription medications at the border.

“We should demand that (Customs and Border Protection) focus on the true priority that we face on the war on terror,” said Sen. David Vitter, R-La., of efforts to secure U.S. borders. “Stripping small amounts of prescription drugs from the hands of seniors . . . should not be a priority.”

Lohr said his clients get prescriptions from their doctors and he helps them find less expensive drugs via the Internet. He then orders through a big Canadian pharmacy, which ships medicine directly to clients’ homes, he said.

“I don’t think (the Senate proposal)’s going to make any difference as long as he’s in office,” said Lohr, referring to President Bush. Lohr contended the president is “in bed” with pharmaceutical and oil companies.

Kathy Pell, 54, a homemaker who lives at Whitfield Estates, was at the American/Canadian Drug Club on Tuesday trying to get cheaper prescription drugs for her 77-year-old handicapped husband who gets Medicare drug benefits but is still scraping to pay for numerous medications.

If the Senate’s plan wins congressional approval, it would help, she said.

“My husband takes drugs that are very expensive - $4, $5, $6 a pill. Some of his were $100 or more a month, and I’m here to get better prices, figure out how to do it,” she said.

Dulcy Kushmore, owner of Canada Med Service, a Sarasota firm that helps seniors and those without insurance or drug coverage to purchase medicines from pharmacies through Canada, said if the proposal goes through, “it’s the best news I’ve heard in three years.”

When clients buy through her firm, some of them save up to 80 percent, she said. “It makes them able to afford their medicines. It’s just so expensive for these people to get drugs, and this really, really helps.”

However, when she heard details of the vote and the fact that the plan must still win approval of a conference committee, she sounded skeptical.

“If it goes through, it would be an enormous, life-saving help to seniors and other people who don’t have insurance to pay for prescription drugs,” said Kushmore. “If it doesn’t, once again the pharmaceutical industry wins and uninsured Americans lose and in some cases, lose their lives.”

The House of Representatives in June approved the spending bill.

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Going off half-cocked

July 11, 2006

The jury may still be out on this one, but were the boxes upon boxes of the masculine get-up-and-go drug Viagra seized in a raid on stores in the Chinatown areas of Santa Cruz and Binondo in Manila indeed fake? Must be, harrumph the skeptics. Otherwise why would the uppers (not hallucinogens, silly) retail for P80 per tablet when the real McCoy fetches P400 a 50-mg pop? (Not that I’ve had the reason to purchase the “blue diamonds,� but I have this rate from the best authority).

Anyway, news reports say operatives of the Criminal Investigation and Detection Group (CIDG) raided Thursday a number of stores and warehouses and seized P3.3 million boxes of the fake drug. Store managers and helpers were picked up by the raiders for further investigation. The cops mounted the raids on the strength of warrants issued by a Manila judge, acting on complaints filed by Pfizer Pharmaceutical Co. that the counterfeit Viagra had caused damage to its product and trademark. Perhaps the drug company’s erstwhile robust sales figures had gone limp.

Viagra is the registered trademark for sildenafil citrate, which erectile dysfunction in men.

It was not the first time that the drug figured in the news, aside from that testimonial from former US presidential candidate Bob Dole in the ’90s, after his failed bid. But before the polls, his wife Elizabeth had naturally endorsed her husband for the presidency. Now, I’m almost sure that the endorsement was partially an offshoot of Mr. Dole’s boudoir performance. But I digress.

Years ago, a branch of a major pharmaceutical retail chain was burglarized. The robbers took several big cartons containing Viagra—the real thing. I don’t know if the suspects were arrested, but surely, the cops could have used some common sense to nail the perps. After all, it’s not all that difficult to spot a bunch of guys exhibiting the telltale signs. To borrow a passage from a limerick, these are men upon whom folks looked askance a lot, for every time they would pass a presentable lass, the front of their pants would advance a lot.

Or, the cops could have been on alert for the burglars’ get-away vehicle. They could have slapped an extra charge on anybody inside the sedan who had taken the potent prescription and couldn’t resist the urge to play with himself. The crime? In the words of comedian Jay Leno, that would qualify for carjacking.

Anyway, in keeping with today’s special report on patients’ rights, what if someone who had taken the fake Viagra from Chinatown suffers from some horrendous side effects? (A slight misdirection here, whatever effects shouldn’t be on the side, but up front, in the torso’s southern portion, right?) Viagra comes with the caveat that it is not recommended for men suffering from problems with their ticker. In any case, will the hospital admissions clerk look kindly at such a patient?

I seriously doubt it. At best, he’d probably receive an earful against going off half-cocked.

Buffeted by the mounting number of impeachment complaints against President Gloria Macapagal Arroyo, Malacañang’s spin doctors find themselves in another quandary. What they thought was an opportunity to turn the tide may in fact boomerang on them. I refer, of course to that controversial tape shown on television with Brig. Gen. Danny Lim, cashiered chief of the Army’s elite Scout Rangers withdrawing support for his commander in chief during those fateful days five months ago.

Let’s hear it from a former chief of staff of the armed forces, Sen. Rodolfo Biazon. If General Lim merely attempted to withdraw support from President Arroyo, he and his civilian backers cannot be charged before the courts—military or civilian—says Biazon, also a former commanding general of the Marines.

“What is very clear from an examination of the statements of General Lim in that video clip is that there was an attempt at a withdrawal of support,� says Biazon, chairman of the Senate defense committee.

He adds that there is “no strong evidence� to support the mounting of a coup or a mutiny, or inciting to sedition, on that day. “There is no definition, whether in the Articles of War or in the Revised Penal Code, on what constitutes the act of withdrawal of support. Maybe the nearest thing to it is disobedience or disrespect to proper authorities.�

What charges, then, can be filed against Lim and his supposed civilian supporters? None, nada, zilch, says Biazon.

If one were to take Biazon’s assessment of the situation, it would seem that the Palace itself is going off half-cocked on this one.

Even Pontius Pilate was faced with a similar dilemma two millennia ago. He told the mob clamoring for blood: “I need a crime.�

So what to do then with Lim and company? Will the authorities flog them?

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Rub-on relief for impotency sufferers

July 7, 2006

mpotency sufferers could soon be able to purchase an over-the-counter rub-on gel to treat the condition.

A British drugs company announced yesterday that it was about to commence clinical trials for the first ever such treatment.

Developed by Futura Medical in conjunction with GlaxoSmithKline, the gel is likely to compete with the Pfizer pill, Viagra, which currently dominates the impotency market, if it proves successful in testing.

The new treatment is based on a chemical known to dilate blood vessels and increase blood flow, glyceryl trinitrate (GTN), which is already used to treat angina.

Unlike Viagra, the gel would be available from chemists without a prescription and scientists hope that fact would lessen the embarrassment some impotency sufferers experience.

Estimates suggest that less than 20 per cent of men who suffer from sexual dysfunction consult their doctor, meaning that many are left untreated.

The gel will now go into extensive trialling, with 1,500 men recruited to test its efficacy.End of story.

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U.S. taking a new approach in war against knockoffs

July 5, 2006

In its battle against near-universal Chinese piracy of Hollywood blockbusters, Warner Bros.’ weapon of choice is a little white price tag smaller than a postage stamp.

Last year, the home entertainment giant began selling selected movies with price tags of only $2.75 in major Chinese cities, aiming to carve out a market for relatively affordable but high-quality, legitimate versions of movies in a sea of counterfeit products selling for less than a dollar.

“The reason why piracy’s come along is that there weren’t enough products at the right price soon enough,” said Tony Vaughan, managing director of CAV Warner Home Entertainment Co., Warner Bros.’ joint venture distribution company in China.

Warner’s strategy has been “to build a legitimate, viable offering for the Chinese consumer,” he said.

The war against rampant counterfeit movies, drugs and other products is moving from China’s back alleys and sidewalks into boardrooms and laboratories.

Companies that once relied on lawsuits and police raids are diversifying their strategies, turning to competitive pricing and trying out new technologies to even up seemingly overwhelming odds.

Drug maker Pfizer Inc. of New London, Conn., is experimenting with attaching small radio-frequency identification chips to track packages of its erectile dysfunction drug Viagra, popular knockoffs of which are widely available. The RFID tags, attached to packaging, can be scanned by a pharmacist to detect product codes showing their authenticity, and presumably weeding out fakes.

Confronted with widespread piracy of computer software, Microsoft Corp. is using new products and advertising to promote the benefits of legitimate software. The new Windows Genuine Advantage program checks the authenticity of a user’s software and provides access to Microsoft software and other benefits for Windows XP users. The company is also offering low-cost versions of Windows starter software in some countries.

“Do you really want an ‘adventure?’ ” says a Microsoft banner greeting arriving passengers at Shanghai’s Hongqiao Airport.

advertising
Lian Hoon Lim, a consultant at Kearney in Hong Kong, recommends a “portfolio approach” to clients: A combination of secrecy, careful research of local partners, new technology and business strategies, as well as legally enforcing patents and trademark rights.

“It’s not a problem for which there is a clear silver bullet,” Lian said. “The message is that people who want to do business in China have to expect to spend money to protect themselves.”

Worldwide, sales of counterfeit products may run as high as $650 billion a year, the International Chamber of Commerce in Geneva estimates. The global black market for counterfeit pharmaceuticals is worth up to $32 billion.

In many industries, China accounts for the largest share of pirated products. Almost 70 percent of U.S. Customs seizures of pirated goods are traced back to China.

Despite the new initiatives, though, the pirates appear to have the upper hand. International criminal syndicates are devoting increasing technical prowess to foil anti-counterfeiting packaging and extend their distribution into major Western markets, said Lee Bromberg, head of the patent litigation department at the Boston-based law firm Bromberg & Sunstein.

“For every preventive measure companies take, the wise guys will find it and you’re back to square one,” Bromberg said. “I don’t think the good guys are winning yet.”

Still, from medical products makers in Salt Lake City to software designers in San Jose, Calif., companies are awakening to the need for varied approaches to coping with piracy.

“Intellectual property protection has made the transition from a lawyer’s issue to a mainstream issue,” said Jeffrey Bernstein, chairman of the American Chamber of Commerce in Shanghai.

In its effort, Warner Bros. turned to China’s state-owned distributor for audiovisual products, making it a partner. Affiliated with the Culture Ministry, the Chinese company has its own vested interest in seeing piracy stamped out.

Vaughan said his team in Shanghai, recruited from top foreign companies and universities, is tackling piracy from the high and low ends of the market.

Commemorative albums and limited editions — such as a John Lennon 25th anniversary DVD complete with miniature guitar case and sunglasses — sell for $20 or more and have proved popular as gifts.

Warner also is experimenting with releases in China’s provincial cities of cheaper, simply packaged DVDs that sell for less than $1.85.

Vaughan would not disclose any sales figures, but said they were in line with expectations.

“We’re seeing some early signs that things are going in the right direction,” he said.

In other industries, secrecy remains the mainstay.

Household names such as the spray lubricant WD-40 and Coca-Cola have managed to protect their businesses by using closely guarded formulas. Lian, the consultant, said he urges companies to keep some of their production processes outside China.

“The most effective methods are focused on keeping part of the production process secret,” Lian said.

The radio-frequency identification, or RFID, tags that Pfizer and other drug companies are putting on their packages also are being adapted for use on cigarette packaging, specialty materials and jewelry, said Rod Chui of Hong Kong RFID, a high-tech firm in Hong Kong that is developing the products.

But such technologies are in their infancy and it’s unclear whether they will deter piracy or be worth the added costs for companies.

Software and media companies, meanwhile, are running into other hurdles as they develop new encryption and so-called digital rights management technologies meant to prevent excessive copying on personal computers.

Sony BMG Music Entertainment faced lawsuits over flawed CD copy protection software that opened a potential security vulnerability when it was automatically installed on computers. Sony settled a number of lawsuits and offered a one-click “uninstall” application to remove the copy protection program.

Warner Bros. will go along with any standard meant to deter piracy, Vaughan said.

But in the meantime, it’s working with DVD wholesalers to put key titles on store shelves alongside pirated products.

“That’s part of the strategy of gradually converting the market,” he said. “This is the beginning. There’s a long, long way to go.”

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Barry Cohen: Get out of town and let’s live again

July 3, 2006

“POOR and loving it: Bush battlers find happiness away from the city gloom”, blared The Australian’s headline earlier this year. This startling piece of news was generated by a Deakin University survey to determine a national index of community wellbeing that included people’s standard of living, health, relationships, achievements, safety, community relationships and future security.

The media seemed nonplussed that the happiest electorates were “generally poor and isolated, rural communities”, while the unhappiest were inner-city and outer suburban electorates of the main cities and Sydney in particular. High on the list was the federal outer-western Sydney seat of Werriwa, until recently represented by Mark Latham. Fancy that!

That the electorate to which I have recently moved, Eden-Monaro, which includes Queanbeyan, Bungendore, Braidwood and Cooma, was listed as the second happiest in the nation, surprised me not at all.

A few days later The Sydney Morning Herald’s headline, “Angry people going nowhere”. Trains still late. Roads jammed. Ferries a shamble, explained the rankings. Such headlines are repeated every other day.

Almost six months on and with state and federal budgets out of the way the message has gone unnoticed by politicians at all levels. The media and academics may have discovered that happiness is not dependent on the value of one’s real estate or the ready availability of cultural events to which one rarely goes, but not government.

The survey confirmed my view that Australia is witnessing a reversal of the century-long population drift from the bush to the big smoke thus helping to solve many of the problems facing contemporary, urban Australia.

After almost 40 years on the NSW central coast, half of which was spent as the federal MP and the balance building and running a wildlife sanctuary, the first lady and I decided that if we wanted to see our grandchildren we had to move closer to Canberra where they lived.

NSW’s southern highlands seemed a nice halfway house until we realised only a life of crime would enable us to purchase our dream manor house. Our eldest son, aware of our fetish for space, suggested we cast an optic over the many towns and villages on the outskirts of the nation’s capital.

Our joy was unconfined when we discovered that real estate was, compared to Sydney, at pre-war prices. On Melbourne Cup day we moved into our early Australiana home on 1.2ha of manicured lawns and gardens at historic Bungendore.

Any reservations we had dissipated when, on our arrival, one neighbour arrived with a freshly baked cake while another mowed our lawn. On Sunday our three border collies were assured of entry to Heaven when we attended “the blessing of the animals” at the local Anglican church. We realised we were already in paradise.

The pleasures mounted when we found that the basic necessities were not merely on hand but on tap. Septuagenarians, with bits dropping off each year, have more than a passing interest in health services, but in a village of a few thousand surely it was too much to expect anything other than a witch doctor. Au contraire. There was a family health centre, pathology testing and a fitness centre with a chemist only a Viagra tablet’s throw away. Then we discovered our doctor was Scottish. How could we gowrong?

Intensive care was not the only facility readily available. Butcher, baker, newsagent, hairdresser and much more were a two-minute drive and 10-minute walk. There are two pubs, seven restaurants, numerous cafes and a fascinating array of antique, book and craft shops.

Of course it doesn’t have everything, otherwise it wouldn’t be a village. For the joys of shopping malls and McDonald’s you have to drive 20 or 30 minutes to Queanbeyan or Canberra through rolling hills devoted to wheat, sheep and cattle.

One almost expects to find Hans Heysen or Tom Roberts sitting by the roadside dabbing on the odd canvas.

And then, of course, there’s the traffic. There is none. Unlike Sydney, one always arrives at one’s destination on time. Instead of peak-hour traffic they have peak-minute.

Dining out is a problem. With three or four hundred restaurants in the region, we have only sampled Spanish, Turkish, Vietnamese, Ethiopian, Chinese, Thai, Indian, French, Italian and what one might best describe as first-class Australian cuisine.

Then there’s the social life. Something we thought was over for geriatrics. However, with a walking frame and extra oxygen it’s a doddle and with endless musical and multicultural festivals, agricultural and dog shows, book launches and art exhibitions it’s difficult to find time to do a knees-up at the Bungendore Ball, but we did.

I could continue, but I’m sure you discern my drift. All of this can be enjoyed by those of modest or limited means. I’m talking about the Monaro but there are dozens of similar regions attracting vast numbers of sea and tree changers. There are those whose employment makes such a move impossible but vast numbers are retired or can work from home, thanks to the dramatic improvement in communications. Phone, fax, computer, email and cable or satellite television are readily available. Now you don’t need to be in a big city to keep in touch with the whole world.

All very interesting, I hear you say, but what is he on about? It’s simple. If I can see the bleeding obvious, why can’t my erstwhile colleagues?

Part of the solution to the overcrowding of our cities and their traffic snarls, pollution, third rate transport systems, crime, inadequate health services and widespread discontent can be solved by governments encouraging those who don’t need to live in the city to move to more welcoming communities.

And while alleviating the pressure on the cities, the influx of population will breathe new life into hundreds of small rural towns that went into serious decline when the car became available to everyone after World WarII.

Most of these towns have the basic infrastructure - railway, post office, police station, schools, sporting facilities etc. Not everything, I grant you, but what they do have is far less expensive housing and a welcoming community unknown to many who live in the sprawling metropolises of our cities. A little help and encouragement from state and federal governments would create the first really successful attempt at decentralisation in Australia’s history.

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