Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

SEARLE EX-PRESIDENT JOHN ROBSON IS TOP CANDIDATE

Executive Summary

SEARLE EX-PRESIDENT JOHN ROBSON IS TOP CANDIDATE for the number two position at the Treasury Department. Reportedly recommended by Treasury Secretary Nicholas Brady to be deputy secretary, Robson has the potent government-industry background for the position. Of particular import to the health care industries, Robinson will have an insider's knowledge of, and perhaps sympathy for, the Sec. 936 Puerto Rico/Carribean tax program. Sec. 936 is a perennial target for Treasury tax planners as a way to raise tax revenues without imposing a new consumer tax. Searle was an early and aggressive user of the 936 tax breaks and ended up in a tax dispute with Treasury in court in the early 1980's. As a senior Searle exec from 1977 to 1986, Robson was exposed to 936 issues and to one concerted effort in Congress to reduce the tax savings in 1982. Robson's return to government would follow an absence of more than a decade from Washington. During the Johnson Administration, Robson worked for the Bureau of the Budget and the Department of Transportation. He later served as chairman of the Civil Aeronautics Board in the Ford Administration. In 1977, Robson followed former Secretary of Defense Donald Rumsfeld to Searle as an executive vice president. Robson subsequently was named Searle's chief operating officer in 1983 and succeeded Rumsfeld as president and chief executive officer in 1985. During his tenure, Robson oversaw the integration of Searle with Monsanto, which involved the divestiture of its OTC health care businesses and a refocusing on pharmaceutical research and development. Robson left Searle in January 1986 and is presently dean of the Emory University School of Business in Atlanta, Georgia. His additional positions include director of the biotechnology firm Chiron and trustee of the Food and Drug Law Institute in Washington, D.C. In addition to Robson, another high Treasury appointment may also have significance to Sec. 936. Nominated to be assistant secretary for policy development is Hollis McLoughlin, now a Treasury Department consultant. McLoughlin, a former Capitol Hill staffer with Rep. Fenwick (R-N.J.), is the son of a retired senior executive at Richardson-Vicks. That company has also made use of the Sec. 936 incentives.

You may also be interested in...



Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011

FDA Skin Infections Guidance Spurs Debate On Endpoint Relevance

FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials

Shire Hopes To Sow Future Deals With $50M Venture Fund

Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth

UsernamePublicRestriction

Register

LL1133990

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel