Drug Substitution Plan Could Cut Drug Costs for Consumers
The Carter administration proposes a model state law to substitute cheaper generic drugs for brand-name prescriptions, potentially saving about 5 percent of the U S drug bill or up to 400 million dollars annually. The plan relies on a FDA FTC list of equivalent products, preserves physician and patient opt outs, and seeks to boost competition while balancing trade secrets and pharmacist incentives.
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Wall Street Gains as Dow Rebounds and Takeover News Shocks
The Dow Jones industrial average rose to 829.78 by noon, up from Monday’s dip, with gainers ahead of losers over 2 to 1 on the NYSE. American Express proposed to buy McGraw-Hill for 34 dollars a share, while Diamond International traded for the first time this week, rising to 37. Volume reached 11.96 million on the NYSE.
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Bee Gees Lead Six Grammy Nomination Totals
Hollywood AP The Bee Gees dominate nominations with six majors for the 21st Annual Grammys tied to Saturday Night Fever soundtrack and Stayin Alive. Competing for album of the year are Manilow Grease Travolta New York John.
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