VIEWS: 4 PAGES: 3 CATEGORY: Business & Economics POSTED ON: 6/3/2010
"For the first time, the U.S. Supreme Court has been asked to consider if FDA labeling requirements set not just a floor, but a ceiling, too," said Rand E. Rosenblatt, a professor at Rutgers University School of Law in Camden. "If every state judge and jury could fashion their own labeling requirements for drugs and medical devices, there would be regulatory chaos," according to Ken Johnson, senior vice president of the Pharmaceutical Research and Manufacturers of America trade group in Washington, D.C. PhRMA and the Washington, D.C., group Biotechnology Industry Organization together filed an amicus, or supporting brief, that backed Wyeth.
Retailers Balance Security, Customer Service Networking for Store owners have lost $42.3B in stolen merchandise since the beginning of the year New Capital, Partnerships Shutterstock.com By Martin C. Daks Biotechs are busy RETAILERS ARE GETTING into the pitching this holiday season this week, following the conference season early-morning openings RETAIL and price slashes of Black By Shankar P. Friday, the day after Thanksgiving. Traditionally, store owners would be focused on ringing up ’TIS THE SEASON for health care enough sales to turn a profit before conferences, and many New Jersey- the end of the year. But fears that a based phar- weak economy point to an anemic PHARMACEUTICAL maceutical holiday season are driving retailers and biotech companies are dis- in New Jersey and elsewhere to pay patching senior executives to make a lot of attention to the theft of presentations to investor audiences. goods, called shrinkage, that can Those strapped for cash are looking hammer a company’s bottom line. for new capital or potential buyers, “Loss-prevention continues to while others are seeding the market be a big concern for all sorts of retail- for possible licensing, marketing or ers,” said John Holub, president of the other partnerships, according to New Jersey Retail Merchants Associa- participating companies and con- tion in Trenton. “Based on my talks ference organizers. with New Jersey retailers, there is Celgene Corp., of Warren, and some anecdotal evidence that the Retailers looking to cut shoplifting need to look for more than customers stealing merchandise. Increasingly savvy thieves are employing dif- Redpoint Bio weak economy is helping to drive an ferent methods to thwart security measures, including return fraud scams that may involve stolen merchandise or fake receipts. Corp., of Ewing, increase in shoplifting as we head into were among the the all-important holiday season.” systems, credits the drop in shrink- Rob van der Merwe, chief executive For retailers, the challenge many New Jer- Theft will cost North American age to improved security measures. officer of Checkpoint. “Shrink is a involves striking a balance between sey-based com- retailers about $42.3 billion in 2008, Most of the shrinkage cost is serious threat to retailers’ bottom safeguarding their merchandise panies that down from $43.5 billion last year, borne by U.S. retailers, according to lines, and amounts to a hidden ‘tax’ without making it difficult for shop- staked out mul- according to an annual study the Checkpoint survey. on consumers who are already deal- pers to see, handle and buy the tiple confer- released last month by Checkpoint The true cost, though, “is not ing with the strain of their tightening goods, Holub said. ences organized Michael D. Becker Systems Inc. The Thorofare-based just borne by retailers, but by con- household budgets during the eco- “You want to be sure the cus- in recent weeks. These were organ- company, which sells retail antitheft sumers and society at large,” said nomic downturn.” ➤➤ See SECURITY on page 12 ized by investment banking firms
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