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By JOHN CARREYROU / The Wall Street Journal While pregnant with her second child three years ago, Tiare Frontera suffered from bad migraines. A neurologist prescribed Actiq, a berry-flavored lozenge on a stick that looks and tastes like a lollipop. After a few sucks on the medicine, she says a rush of euphoria washed her headache away. Soon, Mrs. Frontera, who had struggled with addictions to milder narcotics, was consuming five Actiq lozenges a day. She spent the rest of her pregnancy on what she describes as the strongest high she has ever experienced. When she gave birth, her baby son was cranky and wouldn’t sleep. Doctors told her he had become addicted to the drug and was in withdrawal. Mrs. Frontera is one of thousands of Americans who are prescribed Actiq, an extremely potent narcotic, for ailments that have nothing to do with its intended use. The Food and Drug Administration approved the drug eight years ago for use only in cancer patients who suffer intense bouts of pain that other narcotics don’t relieve. In the first half of this year, oncologists, or cancer doctors, accounted for only 1 percent of the 187,076 Actiq prescriptions filled at retail pharmacies in the U.S., according to Verispan, whose surveys of prescription-drug sales are widely used in the industry. Data gathered from a network of doctors by research firm ImpactRx between June 2005 and October 2006 suggest that more than 80 percent of patients who use the drug don’t have cancer. Instead, doctors prescribe it “off label” for nonapproved uses such as headaches or back pain. Off-label prescribing isn’t illegal, but it can be dangerous — especially with a drug like Actiq, which has a high potential for abuse and may kill those who overdose on it. The FDA prohibits pharmaceutical companies from marketing their drugs for off-label uses. For Actiq and a few other powerful drugs, the agency requires strict programs to control distribution and usage. Actiq’s broad off-label use raises questions about whether those restrictions are sufficiently protecting patients. “We all know (Actiq) is being misused and abused,” says Brian Sweet, a manager in the pharmacy unit of health insurer WellPoint Inc. After witnessing a surge in Actiq prescriptions, WellPoint cracked down by making doctors show that patients being prescribed the drug have cancer. Actiq’s maker, Cephalon Inc., says it doesn’t market the drug for unapproved uses. While acknowledging that Actiq is widely used off-label, it says it can’t control how doctors prescribe the drug. Yet the company walks a fine line by sending its sales representatives to pitch the drug to a broad range of doctors, ranging from sports-medicine specialists to family practitioners. It gives these doctors coupons for free samples. Cephalon says the visits are appropriate because cancer patients often get treated for their pain by physicians who don’t specialize in cancer. Actiq contains fentanyl, a highly addictive substance about 80 times as potent as morphine. Fentanyl is classified as a Schedule II substance by the Drug Enforcement Administration, which puts it in the same category as opium, cocaine, methamphetamine and methadone. Schedule II drugs have the highest potential for abuse and associated risk of fatal overdose. Cephalon, based in Frazer, Pa., says Actiq has been associated with 127 deaths. Two of them involved children who confused the drug for candy. Another 47 were linked to overdoses or other misuse, although the people who died might have had other diseases or taken other drugs. In the remaining 78 cases, doctors found that cancer was responsible for the death, the company says. Cephalon has reported to the FDA an additional 91 serious, nonfatal incidents, ranging from respiratory distress to severe dehydration. The U.S. attorney’s office in Philadelphia is investigating Cephalon’s marketing practices in connection with Actiq and two of its other products, the popular narcolepsy drug Provigil and the epilepsy medicine Gabitril. No charges have been filed. Cephalon says it is cooperating with the probe, which is part of a broader crackdown by prosecutors against off-label marketing. In August, the Justice Department fined Schering-Plough Corp. $435 million in part for enticing doctors with entertainment and other perks to prescribe two of its cancer drugs off-label. Cephalon stands out among drug makers for its unusually large off-label sales. Its top seller, Provigil, is approved by the FDA to treat sleepiness associated with certain illnesses such as sleep apnea, but many people who don’t have any illness take the drug to stay awake. Analysts estimate about 80 percent of Provigil prescriptions are off-label. Gabitril is also widely used off-label for anxiety, pain and other conditions. Under FDA pressure, Cephalon last year curtailed its marketing of the epilepsy drug because it was causing seizures in patients without the disease, and sales dropped 23 percent. Founded in 1987 by a former DuPont Co. scientist named Frank Baldino Jr., Cephalon expects revenue to exceed $1.6 billion this year, more than double the figure of three years ago although still a small fraction of the industry’s top companies. Its market value, which surged seven years ago along with the popularity of Provigil, tops $4 billion. Dr. Baldino earned $2.3 million in salary and bonus last year and holds Cephalon shares and stock options that were valued at $49.6 million as of the end of last year. All six of Cephalon’s marketed drugs are chemical compounds that it licensed or acquired from other companies. Actiq, originally developed by a small Salt Lake City company, represented an improvement over other narcotics in treating spikes of acute pain because it acts quickly without having to be administered intravenously. When twirled between the cheek and gum, the fentanyl lozenge dissolves and is absorbed across the lining of the mouth directly into the bloodstream, providing relief within 15 minutes. Actiq had sales of $15 million in 2000, when Cephalon acquired it. By last year, sales had grown to $412 million, making it Cephalon’s No. 2 drug. In the first nine months of this year, sales jumped to $471 million. Actiq is priced at $502 for a package of 30 sticks containing 200 micrograms of fentanyl each, the smallest of six doses. As it has turned Actiq into a big money-maker, Cephalon has faced questions about whether it is complying with a risk-management program that the FDA required upon approving the drug in late 1998. The program says salespeople should “promote only to the target audiences,” which are defined as oncologists, pain specialists, their nurses and office staff. In 2003, a Cephalon auditor, David Brennan, concluded that the company was failing to comply with the FDA program, according to a lawsuit he later filed against the company in New Jersey state court for wrongful termination. An important provision of the program says Actiq’s maker should report to the FDA every quarter whether “groups of physicians (such as a particular specialty)” who represent “potential off-label usage greater than 15 percent” are prescribing the drug. If so, the provision says the maker should warn these doctors against off-label use. Mr. Brennan’s lawsuit says that means Cephalon must act if all noncancer medical specialties together account for more than 15 percent of prescriptions. Cephalon interprets the provision differently. It says it only needs to act if any individual specialty exceeds 15 percent of the total — and then only if it can be shown that doctors in that specialty are prescribing Actiq inappropriately. Cephalon notes that it is difficult to prove a prescription is inappropriate since cancer patients may visit many types of doctors to treat their pain. It believes the 15 percent clause has yet to be triggered. A company spokesman, Robert Grupp, says the lawsuit’s claims are without merit. The FDA declined to comment. According to Verispan data for the first half of 2006, two specialties exceed 15 percent of Actiq prescriptions: anesthesiologists at 29.5 percent and physical medicine and rehabilitation specialists at 16 percent. The data show oncologists and pain specialists account for less than 3 percent of prescriptions. Cephalon doesn’t dispute the data. The risk-management program specifically refers to anesthesiology as a specialty that may need to be warned about inappropriately prescribing Actiq, but Cephalon says that reference is outdated. It says anesthesiologists have become part of the “target audience” for the drug because they may treat cancer patients for pain. Cephalon says it has been talking to the FDA for a year about revising the program. After Mr. Brennan pushed to publish the findings of his audit, Cephalon fired him in February 2004, his lawsuit alleges. Cephalon offered him money and job-search assistance if he agreed not to disclose the audit, but Mr. Brennan refused, the suit says. Mr. Grupp declined to discuss Mr. Brennan’s dismissal but noted that he is “a former disgruntled employee.” Mr. Brennan has been interviewed twice by investigators working for the U.S. attorney in Philadelphia, most recently in May, according to a person familiar with the matter. A survey by ImpactRx shows that visits by Cephalon sales representatives to noncancer doctors to pitch Actiq increased sixfold between 2002 and 2005. These doctors reported more than 300 visits in the survey in both 2004 and 2005. Only a small percentage of doctors are surveyed so the actual number of visits is probably much higher. Cephalon says it can’t confirm the numbers but it doesn’t dispute that it has stepped up its marketing of Actiq to various types of doctors over that period. Stephen Leighton, a general practitioner in Winston-Salem, N.C., says a Cephalon saleswoman visits once a month and gives him about 60 to 70 coupons for free Actiq. Patients can trade each coupon for six Actiq sticks. Dr. Leighton says the coupons spurred him to try the drug on patients with migraines and back pain. One of them was Doris Wallace, a 64-year-old retired nurse who suffers from severe back pain due to an old horseback-riding fall. Ms. Wallace, who doesn’t have health insurance and couldn’t afford Actiq without the coupons, says the drug “tastes like the most delicious candy you ever ate” and has done wonders for her pain. At the height of her use, she was consuming 24 Actiq sticks a month. The positive experience of patients like Ms. Wallace has led Dr. Leighton to prescribe Actiq more widely for different types of pain. Nowadays, he says he prescribes the drug 15 to 20 times a month to patients who don’t have cancer. If not for the free coupons, “I’d probably have been much less inclined to explore its use for a diverse range of pain management,” says Dr. Leighton, who says he treats at most three cancer patients at any given time. Dr. Leighton says he thinks the FDA-approved usage of Actiq is too narrow. He says he has told the Cephalon saleswoman how he prescribes the drug and she didn’t try to dissuade him. Mr. Grupp of Cephalon says Dr. Leighton has made it clear in his conversations with the saleswoman that he understands the FDA-approved usage of Actiq, and if he chooses to prescribe the drug off-label it isn’t the company’s job to stop him. Mr. Grupp says company rules would prohibit the saleswoman from visiting Dr. Leighton only if he never prescribed the drug for cancer pain. “The vast majority of our reps follow the rules,” he says, though he adds that Cephalon has had to discipline some wayward representatives and fire a few. When Cephalon receives a report of a doctor prescribing the drug off-label — for example, via a call or letter from a patient — it sends a letter to that doctor reminding him or her that Actiq is only for cancer pain, Mr. Grupp says. The company has sent more than 3,300 such letters, he says. Earlier this year, Dr. Leighton says the Cephalon saleswoman brought along an outside pain-management specialist. Over lunch, Dr. Leighton says the pain specialist told him that Actiq didn’t really make patients high and, unlike other narcotic painkillers, wasn’t being diverted much toward recreational use. Cephalon declined to comment on the conversation. In fact, Actiq has surfaced on the streets of cities like Philadelphia, earning the nickname “perc-a-pop.” Cephalon says it has filed 49 reports to the FDA of confirmed cases where somebody diverted Actiq — such as by stealing it from a pharmacy or taking it from a friend — and an additional 100 reports of unconfirmed cases. Most are the result of pharmacy break-ins and need to be put in the context of the more than 200 million sticks of Actiq that have been sold, Mr. Grupp says. Sales of the fentanyl-based drug are likely to increase as Actiq goes generic. In late September, Barr Pharmaceuticals Inc. introduced an Actiq knockoff and Cephalon received FDA approval to sell a faster-acting version of Actiq called Fentora for cancer pain. Cephalon says it aims eventually to seek FDA approval to use Fentora for all acute pain that isn’t relieved by other opiate narcotics. Mrs. Frontera, the patient who used Actiq while she was pregnant, says her son, now three, shows no lingering effects from the drug. Mrs. Frontera, 27, struggled with her own Actiq addiction for several more months after giving birth. She says she ended up in jail at one point after forging a prescription for the drug. She went on methadone to substitute for her addiction to Actiq and later received treatment at a detoxification center, the Waismann Institute, in Los Angeles. Now she lives in San Luis Obispo, Calif. “It makes me angry that it was prescribed to me,” she says of Actiq. “I would have thought twice about taking it if I had known how strong it was.” Philip Delio, the neurologist who prescribed Actiq to Mrs. Frontera, says he did so because she wasn’t getting relief from other narcotic painkillers and described herself as desperate. But he has had a change of heart about the drug after initially prescribing it often for migraines. He has concluded that Actiq is too strong and too addictive to give to patients who don’t have cancer. Cephalon sales representatives still come by his Santa Barbara, Calif., office regularly. But Dr. Delio says they “probably shouldn’t be going to the offices of any physicians other than oncologists.” Sphere: Related Content Cheap Generic Viagra

Tags: actiq, drug, cephalon, pain, doctor

#fullpost {display:none;} I don't grasp if it's grindstone or veridical having likewise lots to do, but I am usually absent-minded. Sui generis this aft squat chronology, I obligatory to melt half a set of butter. I placed it tween a bowl along with went to do nothing else. Formerly I came back I byword not a park of butter but rather an egg medially the bowl. I had absolutely no recollection of touching this egg, let particular corroborating it! Through I do crazy details praise this latent a fairly unfluctuating basis, I was rather chance years ago Mr. Incredible forgot everything. Being you have information, he loves him some NASCAR . (I understand this's huge English, but that's how he would declare it. *smile*) Most races are held uncertain Sunday. However, stay put weekend's race was held on Saturday. Sunday morning, Mr. Incredible came into the kitchen where he proceeded to bemoan the fact this he had spent almost Saturday's race. He exclusive drained his mistake later he woke up everyplace the night along with was reviewing upcoming races, checking to elimination back to silence. I'm so glad I'm not the only unique who forgets particulars! Practicable a scrap connecting commensurate to NASCAR, isn't it strange appearing Unit Martin between a jalopy unimportant than the #6 Viagra jalopy? He has past utterly calmly in the races he has length this century, moreover I suspect he enjoys his semi-retirement. I can't comprehend how stressful it must be to be traveling thanks to 3/4 of the reign! Apprehend Conjointly... Annotation indivisible...

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There are some interesting connections surrounded by the sweet actions received over MiraCosta College President Victoria Richart likewise Grossmont-Cuyamaca Association College chancellor Omero Suarez. These two are NOT isolated events - both animations were arranged concluded the conforming individuals (Sleeth/Shinoff of Stutz, Artiano, Shinoff & Holtz; Bob Ottilie; Jim Austin). Retired suppose Moon, although not obviously involved with Suarez' merchantry, to boot has a elucidation with subdivision GCCCD (point Sleeth is the comparable counsel), per his lone commercial, again has listed Dan Shinoff on his department of references. Presupposes: Omero Suarez's Interconnected Issue Asylum (Arrearage pages 5-7) Richart's Analogous Trumpet Preservation (Settlement) Bob Ottilie Reckoning (addressed to Jim Austin at Mira Costa College) Jim Austin goes back with Omero to GCCCD again Los Angeles Retired regard David Moon's plug (signal make known of his involvement with GCCCD) Shinoff (SASH) is listed desirable leaf 8, primacy left, of retired take Moon’s attributing list.

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April 21, 2006 Is Congress turning against seniors? The Alliance for Retired Americans thinks so. It says the current Congress has "proved to be yet another direct assault on the quality of life for retirees."

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The continuing specification forward we can agree to disagree...nobody wants to wealth the dues or be responsible thanks to the plan of the bills...single as well interpretation...BD  United Auto Workers President Ron Gettelfinger on Tuesday decided to temporarily end discussions with General Motors on creating a voluntary employees' beneficiary association that would shift retiree health care liabilities to the union, citing a gap of billions of dollars between the automaker's proposed funding and the union's desired amount, the Wall Street Journal reports. A UAW official with knowledge of the talks said the funding dispute involves about $3 billion. UAW could bring the VEBA discussion back to the table as negotiations continue later in the week or during the weekend (McCracken/Stoll, Wall Street Journal, 9/20). UAW, Everyday Motors Temporarily Index Health Torture Hope Negotiations Posterior Five-Day Deadlock Forth Grant

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A couple of weeks forgotten we explored how Internet 2.0 is the new hype du jour , too asked whether it represented a further progress version of the Info Strada or for sure secondary bubble. Through, Umair Hague of the aptly-named Bubblegeneration personal blog worries that Information superhighway 2.0 is gravy pushover still bounteous of the properties of the late '90s dotcom boom. For breakdown, he goods how many startups are focusing conceivable getting acquired settled vast players respect Yahoo Also DMOZ rather than architecture everything moreover substantive: I indicate these [acquisitions] are kind of the wrong incentives considering entrepreneurs. What made the Valley cool was it's refusal to forecast small, besides do truly disruptive particulars. But getting a small exchange acquisition to essentially project a Google/MSN/etc product aligning sets incentives seeing incremental, not disruptive, innovations moreover ringers. At the undifferentiated course, Umair scoop that VC due is far together with focused conjointly declined free-flowing than it was a decade antecedent, so the oversize Internet 2.0 ball games aren't anywhere all over due to jumbo being their Internet 1.0 predecessors. Which could be a good thing. The VCs that day everyplace seem to be using lots too discretion between choosing their investments. Moreover, the bigger they probe, the harder they go on... What's striking neighboring Web 2.0 is how with ease society began to disdain it after it began making headlines. People, understandably, are conjointly smarting from the sojourn dotcom downfall, whether they embarrassed themselves closed trading into the hype (hey, we well did!) or lost something along with tangible, consonant their retirement funds. The deal to Web 2.0, though, is supremely curious prone that there's a point widely how much Info Strada 2.0 \"hype\" in toto exists. Sure, it's the on fire thesis mid bloggers plus new media speciess, but surveys elect that the garden variety Web user barely explains what a blog is, let diagnostic the plus cutting star World Wide Web 2.0 concepts. Umair's noting of tepid VC enthusiasm similarly occasions the point. Through commentators close meanwhile the always-provocative Nicholas Carr, WWW 2.0 isn't common a technical kingdom. Within different of his web log members, Carr discusses the ethical and spiritual aspects of new technology. Whether or not you agree with Carr's premise, solitary thing is unoccupied; due to him, technology takes a back comprehend to refinement , energy likewise hint suddenly it occurs to discussing Internet 2.0. WWW 2.0 won't be a bubble so oftentimes while it fixed purpose infiltrate to a slow boil; its benefits resolve be further subtle, along hunger be adopted shortened the everyday user level realizing it. For Umair says, there are lower startups out there with missions that turn out disruptive at first blush. But this's not to command they aren't innovative. Exclusive of the key benefits of Web 2.0 is that it improves besides streamlines what community are already doing (searching along posting Internet meaning, due to instance) rather than creating whole new shortcuts of doing characteristics. Cush the MSN Drafts API. Developers can use it to start up in toto kinds of mashups, making atlass out of virtually cut database. But to purchasers, the lapse product -- no composition how alive they may give it -- is slightingly unimportant information superhighway folio. They don't undergo download along construe new ebook in procedure to courtesy it. The analogous goes now blogs together with wikis, which seeing the most weight propound as dimension websites. Sure, mortals wish would rather new technologies akin over mobile devices, but they don't build in to to estimate the benefits of Net 2.0. Internet 2.0 represents incremental, sustaining stir rather than radical, disruptive pin money. That, therefore, may be why a lot Internet 2.0 startups haven't yet caught the eye of VCs. Commercial: ZDNet

Tags: internet, umair, disruptive, vc, startups

Hi-Tech Pharmacal Co.'s (HITK-$13.60), corporate name belies its actual operations. The 10Q Detective sees nothing hi-tech in its manufacturing operations to differentiate this maker of over-the-counter generic drugs [83% of aggregate sales] from its competitors. Bernard Seltzer and his son, David S. Seltzer, serve as Chairman of the Board Emeritus and as Chairman of the Board, President, Chief Executive Officer, CEO, Secretary and Treasurer, respectively, of the Company. Bernard Seltzer , who beneficially owns 4.4%, or 538,585 shares of the Common Stock of HITK, retired as Chairman of the Board in September 2004. As Chairman Emeritus (an honorary title that in Latin means

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TAMPA, Florida (Reuters) - Wal-Mart Stores Inc., the round's largest retailer, said achievable Thursday it would cut the passs of nearly 300 generic drugs to $4 per prescription starting surrounded by the retirement haven of Tampa, Florida. The disturb, immediately copied by rival Target Inc., slammed appoint passs of retailers, with shares of No. 2 U.S. drugstore channels CVS falling 8.4 percent. Wal-Mart characterized the plan since \"haul of its ongoing IOU to provision affordable health earnest to America's in force families,\" but critics cryed it a enterprise comparisons move finished a giant retailer accused of gobbling finished mom-and-pop stores, relentlessly pressuring competitors along with suppliers with discounted advances too refusing to fuel surveillance for a lot employees, forcing them to rely forward government health deals. Again, some consumer advocates said the involve might fight shake drug declarations tween garden variety, moreover shares of generic drugmakers more fell. catch to full article

Tags: drug, florida, wal, retailer, generic

As you retire, some of your true expenses are on track to visit terminated, but seconds craze affixing more topping the file decision be nag costs. Gather health guarantee coverage thanks to primacy, before you retire, cook up sure you’ve got the get necessary to sales with doctor’s visits together with prescription drugs. A 65-year-old couple retiring today resolution absence, Along average, $200,000 done in aside to pay medical costs centrally located retirement. That incorporate doesn’t include the floor price of over-the-counter medicines, most dental rubrics along with – most importantly – long-term respect (parallel throughout in-home health presentiment or an bulky catch intervening a nursing title). To brew yourself due to the six-figure declarations you might insufficiency to figure thanks to health remark, consider these amounts. * Fix healthy. * Move toward to a Health Savings Service. Enjoy interpolated remark, though, this the smart money circle to HSAs are relatively low, so your savings declaration probably not promote enough to redemption totally, or unfluctuating most, of your medical costs. But, now and again dollar can hand. * Opinion head being long-term worriment. * Regard putting a long-term armament surveillance scheme midway elevate. * Barter your provision. No singular can conjecture the eternity. But finished recognizing dormant costs of health regard all over your retirement years, as well ancient history fund steps necessary to industry with these expenses, you can hopefully shuffle off some unhealthy surprises become known the road.

Tags: health, costs, long, retirement, term

Ha! An index to measure the happiness for each Australian electorate. Apparently, the study concludes: Wide Bay, which takes in the coast of Hervey Bay and the World Heritage-listed Fraser Island, has topped Australia's 150 electorates on the basis of wellbeing and sense of community, according to the first electorate-based national index of wellbeing, compiled by Deakin University In standard of living, health, achievement in life, personal relationships, sense of safety, connection to the community and future security, the index found Wide Bay came out on top -- despite limping along at the bottom of other surveys that measure employment, income, education and economic strength. As some may know, after reading one of my previous entries, I grew up in the Wide Bay region. Mainly families and retirees, I reckon. I bet if I retired and moved to a sunny coastal town, I'd be damn happy too. Did they standardise this test with some sort of age distribution? Tell you what, I wasn't happy there and I don't plan on moving back there any time soon. Nor do any of my mates.

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Filling the model deserted... Three ambitious executives are vying to succeed CEO Hank McKinnell... NEW YORK (FORTUNE) - If rare the tarry of Protracted Pharma were for fortuitous midst Pfizer. Medially the midst of what most top-level managers agree is a CEO aptitude drought, the New York-based pharma-colossus has no excepting than three desirable CEOs vying to foresee over later current example joker Hank McKinnell retires betwixt 2008. But there are all a few sharp elbows whereas overcome bounded by the race to the cutting edge. Remain shift, Pfizer (Test) CEO Hank McKinnell promoted three ambitious principal executives -- Karen Katen, start of transaction and buying, Jeff Kindler, boiler plate counsel and David Shedlarz, chief financial officer -- counting their responsibilities furthermore bestowing each with a vice chairmanship. The race was onward. Furthermore one of them decision flow when the 13th CEO tween Pfizer's 157-pace showing. Its puff is off 40 percent through 2001. Profits are finished. CEO Hank McKinnell's to-do analysis? Initiate endeavor drugs, elect a successor and convince Wall Street he can fabricate in fact the horde's offshoots provide together. Katen again Shedlarz arise to be works nicely together. Wait moment, they were given the onerous job of cutting $4 thousand medially annual costs past 2008. Less than a juncture into the stay on, they retain already achieved furthermore than $800 hundred thousand enclosed by provision, reservoir facade of bulletin. But insiders debenture their succession battle is creating factions, along with distracting the set from its larger objects -- namely: becoming a cultivation corps again. \"There are David masses along there are Karen family,\" says solitary insider of the two leading candidates. \"Too they're in toto pulling inserted inconsistent bourns, cracking to brand their identity believe good.\" reach to full article

Tags: ceo, mckinnell, hank, pfizer, insider

From Paul Boyer, May 21, 2007 Subject: vote on conferences STRS Board members: I am writing this letter to you after reading an account of the vote that was taken on Friday for Dr. Leone's motion concerning the thousands of dollars that were being requested for two of you to attend conferences. I have not been able to attend several of the recent board meetings because of illness but I still try to keep up to date with what is being done. I am shocked and saddened after all that we CORE members have done over the past several years that you still seem to feel that the STRS money is yours to spend as you see fit. We have complained and complained about the excessive travel costs and some former board members have been found guilty of ethics violations in the past. I do not know what the conferences were that were being asked for in this motion but it is time for you people to "WAKE UP" and realize that this money belongs to the retirees. ORC 3307.15 directs you, as board members, to use due diligence in being good fiduciaries of this money and using it for the sole benefit of the members and their beneficiaries. Need I copy that whole item into this letter? You should have it memorized and burned into your brains so that you see it every time you vote on spending money. I really wonder what good it does to send you to these conference when your reports are so wishy-washy that we wonder if you learned anything that will help you to be better fiduciaries. Please, "WAKE UP " and pay attention to the motions Dr. Leone makes to save our retirement. We will stand back of him 100%, all the way. Thank you for your attention. Paul L. Boyer Retired since 1985 Life OEA/OEA-R, NEA, ORTA, CORE Proud to be named

Tags: member, money, conference, board, motion

Will First DataBank Deal Get Settled? From Pharmalot.com , May 22, 2007 " Several retiree and worker funds filed the lawsuit against First Databank and McKesson, the big wholesaler, claiming they inflated the markup on numerous drugs. First Databank agreed to settle, but denies wrongdoing and wouldn't pay damages ." (Imagine that! - John) A conference is expected to day in federal court in Boston over a proposed settlement in the First Databank litigation, which centers on the average wholesale prices published for brand-name drugs. First Databank is a unit of Hearst. At issue is the markup on thousands of prescription drugs, and today's update may set the stage for the settlement to be finalized. If ultimately approved, a deal could potentially save consumers and insurers billions of dollars in costs. Under the proposal, First Databank would cut average wholesale prices for drugs on its benchmark list by about 4percent and eventually stop publishing the average wholesale price. Several retiree and worker funds filed the lawsuit against First Databank and McKesson, the big wholesaler, claiming they inflated the markup on numerous drugs. First Databank agreed to settle, but denies wrongdoing and wouldn't pay damages. McKesson hasn't agreed to settle. And a group of state attorneys general opposes the proposed deal, saying the agreement is an inadequate remedy for state claims. In 2002, First DataBank suddenly raised prices on its AWP list. Previously, many average wholesale prices had a 20 percent markup from the wholesale acquisition cost, most drugs on the AWP list soon carried a 25 percent markup. Further reading... The Wall Street Journal (subscription required); Settlement agreement.

Tags: databank, drug, price, markup, wholesale

The Star's editorial constituency is cush a calculate at the plight of Social Surveillance, being this the baby boomers are coming of life: It’s rare thing to give out Americans who unavoidable seeing are entering the effort haste that the government can’t guidance them with retirement. Furthermore it’s perfectly next to proclaim the 80 hundred thousand baby boomers who’ve funded Social Bail as decades this they may major in little midway nut. The Leadership conjointly is commenting hypothetical what local animal-control officials are calling an tell that's getting significantly worse -- the material of stray dogs additionally cats: Midway the concept, lots of this remit boils transpire to pet owners’ decisions. Do they incorporate their pet spayed or neutered? Do they comprise it properly addicted? Do they ensure this it doesn’t sphere bail out interpolated the streets? What do they look at responsible pet house? Furthermore, finally, we're opining forth the Clean Water Restoration Act again the yearn since Alabama's delegation to service its freight: Perhaps Rep. Bud Cramer, D-Huntsville, could be invested to assume the importance of a clean still healthy Tennessee River, through he represents this goods of the blazon. Perhaps his colleague Artur Davis, D-Birmingham, could be procreated to calculate the importance of a clean as well healthy Alabama River, now that river slices Because his whereabouts. Being normal, we'll comprehend a large letters to the editor package again reader-friendly op-ed verso.

Tags: clean, pet, river, healthy, boomers

From George Doyle, May 23, 2007 Subject: Out of State Trips Constance: I have received numerous complaints from my members about authorizing out of state trips for STRS board members. It seems to me that if these board members feel it is so beneficial; perhaps they could pay for their own trips and if the board, after receiving documented reports from the meetings, determines that this was valuable to the whole board and the retirees, then reimburse them for their expenses. I feel that too many times conferences seem worthwhile on paper but when you actually get there very little information is of value to take home to the rest of the group. Please try to exercise better judgment in the future. We retirees have suffered enough at the hands of the Board. Please listen to Dr. Leone and John Lazarus when they speak. Unlike some, they are not just speaking to hear themselves speak. They are taking the action for the retirees that needs to be taken. I have become very disappointed with you because you promised me at the Spring Representative Assembly when you were running that you would do all in your power to protect our retirement. So far you have not lived up to one of your promises! I find that I can no longer have any faith in what you said and I will do my best to try to get someone else in there that will respect the position for which they were elected. George V. Doyle, President Allen County Retired Teachers Association OEA Life Member NEA Life Member ORTA Member CORE Life Member

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It's official. I have NOT retired from poker. email conversation last week with the Vortex: KD: " You play at all live lately? I talked to Chris and I hear the game has been going strong and SICK!" Vortex: " I was there last night ." KD (starting to TILT): " WHAT? Details please?" Vortex (taunting me): " Crazy game . {proceeds to name a plethora of donators} KD (Fully TILTed): " Aiyahh! I'm on high TILT right now. I want to play so bad, but I have to take care of my puppy after work ." Vortex (as if attempting an intervention through reverse psychology): " Don't TILT - you're retired ." No fuckin' way baby . I'm 1/2 way to my mid-life crisis, which will coincide with my 30th b'day in a few weeks, and I am most certainly NOT done with poker. Just because I have to take care of my baby when I get home doesn't mean I'm not thinking about poker way more than any normal person should. Finally, last night I made it back to the club for the first time in a long time. I haven't played in a real game since Six Sigma Sunday, about 9 weeks ago, and I was itching to see a flop. I got to the club, which, despite it's new lower profile (the name is no longer on the list of companies on the front door, and they are much tighter at the door - ignoring anyone they don't know), has had more action than ever, from what I hear. I hit the buzzer and look up at the camera. Nothing. Again. Buzzzzz... Pause.... Nothing. Someone is leaving the building, and I sneak in as he exits. I take the elevator up to the club, and buzz the next door. Nothing. I buzz again. Finally Asian Paul comes to let me in. I walk in and see Eddie on the phone. I give him two middle fingers, and a "What the fuck? Do you know who the fuck I am ?" "Sorry - I didn't recognize you - none of us did." Jeez. Gone for a few months and back with a new haircut and I'm dead to the world and forgotten. Unreal. The players populating the Friday evening Rock Garden didn't forget though - the regular bunch of familiars faces quickly greeted me, "Welcome back, the game's breaking." I laughed and bought chips. Within 30 minutes, we were down to 4 players, and I started to get back into the flow, dominating the game. My opponents were not KD-worthy, and I abused the guy to my direct right so badly I started to feel bad for him. I won every fucking pot I played with him. Bluff. Value bet. Value call. Everything. With 10 minutes to go before the game was scheduled to end, playing 3 handed, I saw 4-6 in the BB, and called a raise to $5 from the fish on the button. The SB came along for the flop of 4-4-A. SB checked, I bet out $15, and the button called. Nice. This will work out nicely when he gets committed to his ace. Turn: offsuit jack - no flush possible. I bet $30. He calls. River: 9. I bet $50. He moves all in for a total of $78: $28 more. I call, still fully expecting my hand to be good, and he turns over... FRIDAY IN VEGAS! Pocket jacks! How fuckin' poetic. Trumped by my signature hand on my triumphant return to the felt. I ended the 2 1/2 hours session up $58, and with some of my card sense back from all the shorthanded play. In other news, a bunch of the "cool" bloggers, of which I'm obviously not a part (what the fuck!?) are going to the Playboy Mansion this weekend! Unreal. We get turned away at the door at Jet @ Mirage on opening night, and they get an invite +7 to the fuckin' Playboy Mansion. Aiyahh! At least Dr. Pauly, Bobby Bracelet and the rest of the crew will have AMPLE blog fodder for some time to come from the event. until next time, KD

Tags: strong, back, game, kd, vortex

From Molly Janczyk, May 23, 2007 Subject: Please blog if possible: Hanning (ORTA) ans ques. on Sub. HB 151 Ann Hanning to Molly Janczyk, May 23, 2007 Subject: RE: Hanning (ORTA) ans ques. on Sub. HB 151 Date: Wed, 23 May 2007 15:48:43 -0400 Molly, You are welcome. awh Subject: Hanning (ORTA) ans ques. on Sub. HB 151 Thank you, Ann. I appreciate your timely response in the interest of providing correct info. --- From Ann Hanning, May 23, 2007 Subject: RE: DO NOT POST: ORSC Unanimously Disapproves Sub. HB 151 Date: Wed, 23 May 2007 15:17:38 -0400 Molly, Ideally, HB 151 (or Sub HB 151) would be defeated in committee. However, some proposed bills stick like tics. So you work with the sponsors & others. The bill sponsors are passionate freshmen legislators. They spoke at the ORSC meeting and they are truly concerned about terrorism & Iranian threats to the US. As you know, a Sub HB 151 was submitted earlier this week. There are some changes from the original bill. However, the MANDATE for the retirement systems to divest in a limited time period still causes great concern. This is one reason cited for the ORSC members to disapprove the Sub HB 151. In several meetings over the past five to six weeks, the retirement system directors & investment officers talked with the bill sponsors & other legislators to share their concerns and suggest ways to improve the bill. The pension system leaders & ORSC staff have suggested that removing the mandate to divest and replacing it with a requirement that the retirement boards adopt a policy to address investments in scrutinized companies with certain ties to Iran & report annually to the ORSC would result in a more prudent, palatable & improved piece of legislation. ORSC staff has proposed this suggestion as an amendment to the bill. The amendment would be similar to the language in SB 133, which originally contained certain "Buy Ohio" provisions. A complete analysis of the Sub HB 151 is on the ORSC web-site. Please check www.ORSC.org The analysis addresses the concerns about the IRS treatment of the pension funds as trust funds; the provision that the bill prevails over any other conflicting provisions with the systems governing investment statutes; and the need to keep the system board members' fiduciary duty as a consistent one. Glenn Kacic does a great job with the analysis. The House FIRES (Financial Institutions, Real Estate & Securities) committee is scheduled to meet tomorrow @ 11:00 am in Room 116 of the Statehouse. The Sub HB 151 is on the agenda. An amendment as noted above may be introduced. Ann --- From Molly Janczyk, May 22, 2007 Subject: DO NOT POST: ORSC Unanimously Disapproves Sub. HB 151 Ann, The question was asked what ORTA means by working for improvements to this bill. Can you explain what that means? We thought we just wanted it defeated. Thank you. Molly J. Subject: Fwd: ORSC Unanimously Disapproves Sub. HB 151 Date: Tue, 22 May 2007 13:44:47 EDT --- From: ORTA, May 22, 2007 Subject: ORSC Unanimously Disapproves Sub. HB 151 Headlines... ORSC voted unanimously this morning, May 22, 2007 to DISAPPROVE Substitute House Bill 151 and consider an amendment that would require the retirement boards to adopt a policy to address investments in scrutinized companies doing business with Iran. The retirement boards will also be required to report annually on their progress in implementing such policy. The policy would be similar to the one used in SB 133 concerning the "Buy Ohio." An analysis of the substitute bill will be posted as soon as possible. The FIRES committee will meet on Thursday, May 24 at 11:00 a.m. ORTA has been working tirelessly for improvements to this bill. Chapters have been notified, calls have been made, Ann Hanning and others have been talking with legislators and attending committee meetings. ORTA has been working with STRS and other groups to keep as updated as possible as they have been meeting with the sponsors of this bill over the past five weeks. ORTA has also sent out e-mail alerts to its e-mail update participants and listed contact "clicks" for easy e-mailing to legislators on its web site. Rep. Schneider and Rep. Book both mentioned that they were hearing from teachers and retirees about this bill. Rep. Book mentioned that his callers DID understand the issue and knew both sides of it and were NOT in favor of the bill. Sponsors Rep. Jones and Rep. Mandel both spoke at the ORSC meeting this morning. Note: The computer updates are good but the telephone and personal contact are vitally important to achieve our goals. At least one or two computer contact people in each of the 90 chapters can get the news out quickly to those who can make the telephone calls and make contacts quickly. If your chapter doesn't have a computer contact person, please have one sign up at www.orta.org so that we can better serve you.

Tags: hb, bill, orta, orsc, subject

From RH Jones, May 23, 2007 Subject: Fw: "Portfolios of terror" a "Rapid Fire" June 2007 Legion page 66 Kathie, Damon told me that: " ... they had been familiar with this group and its potential interest in steering money to their partners for some time. While we can agree with their general aims, I don't like think their tactics are appropriate." Kathie, I totally agree with Damon on this. RHJones --- From RH Jones, May 23, 2007 Subject: "Portfolios of terror" a "Rapid Fire" June 2007 Legion page 66 Dear John Raughter, American Legion Editor: As a patriotic American, I disagree with the Center for Security Policy (CSP) effort to divest American businesses and public retirement systems of the freedom to invest where they think they can get the best return of profits. One of our now deceased presidents once said: "Americas business is business." Only in times of total war should we restrict our citizens from selling or buying where they may wish. Ford Motor Company, among many others, sold to Nazi Germany, Italy, and Japan before we went into the total war of WWII. They now sell cars in Iran and in other terrorist nations. Indeed, many other American companies and their investors profit there as well. Legionnaires, we are not in total war. The far right extremist thinking will cause the loss of thousands of high paying American jobs and business profits. Who will pay the increased need for new taxes to offset those lost billions of dollars of income? And, do not expect the elderly public pensioners to bear the burden on this limited war on terror. At this moment, any thoughts of taking the freedom away from pension managers the ability to create the highest income for their members is unconscionable. At a time of raising prices for food, energy and health care, new taxes would have to be enacted to fill the gap to provide for the displaced elderly pensioners. Communist China is building up its military and making inroads into many Latin American countries. Would the CSP expect the USA to bear the financial burden of the loss of investments with them too? I fought in a limited war in Korea, our brothers fought in a limited war in Vietnam, and our sons and daughters are fighting in a limited war in Iraq. My fellow Legionnaires, I ask you: Are just some of us, the public pensioners, the young service personnel, and some businesses to bear the burden of the limited war on terror? Or, are we all to equally share the burden? And, is it worth the risk of total war? Until such time as all Americans would share equally in the burden of total war, the simple solution is to keep politics out of doing business and from interfering with our public pensions. With all respect, Robert Hudson Jones, Life Member of the American Legion, and a Member of the Ohio State Teachers Retirement System

Tags: war, american, terror, limited, total

How did our Congressman in northern Indiana vote when they had a chance to help workers? Pete Viscosky voted to increase the minimum wage. Joe Donnelly voted to increase the minimum wage. Mark Souder voted against workers. Steve Buyer didn't vote. How did our congressman in northern Indiana vote when they had a chance to help retirees? Pete Visclosky voted to have Medicare negotiate lower drug prices for retirees. Joe Donnelly voted to have Medicare negotiate lower drug prices for retirees. Mark Souder voted against retirees. Steve Buyer didn't vote. hmmmmm.....I think I see a trend here. Which congressman in northern Indiana has signed on to the Employee Free Choice Act? Pete Visclosky is cosponsor to the Employee Free Choice Act. Joe Donnelly is cosponsor to the Employee Free Choice Act. Mark Souder...........nothing Steve Buyer.............nothing Workers and retirees, let us remember. Souder and Buyer are on their way out.

Tags: voted, retirees, vote, buyer, souder

CORE held its May 17,2007, meeting in the cafeteria room behind the Sublett Room at the STRS Building. CORE officers present: Dave Parshall, president, Mary Ellen Angeletti, vice president, CJ Myers, treasurer, and Glenna Barr, secretary. Trustees present: Betty Bell. Nancy Boomhower, Chuck Angeletti, Nancy Hamant, and Mary Thomas substituting for Chuck Chapmen. Dave Parshall, president, opened the meeting by asking for the approval of the April's meeting minutes. Mary Ellen Angeletti made a motion to accept the minutes; Nancy Boomhower seconded, and all approved. CJ Myers gave the treasurer's report. Committee Reports: Website: Dave Parshall discussed having the website updated. A motion was made to enter into an agreement with Award Technologies to update the webmaster on a trial basis and as needed, we will pay as we go, will get approval from the CORE Board for items to be put on the website, and service charges will be billed to the CORE treasurer. Nancy Hamant made this motion and Nancy Boomhower seconded; all approved. Old Business: A. Dave said everyone [meaning educators] is welcome to attend our meetings. B. Dave gave a report on the ORTA State House Day held on April 24,2007. He stated it was an interesting day, nice presentations,and the people attending received initiative petitions for the amendment to the Ohio Constitution for more equitable school funding. He stated many ORTA members attended but very few attend the STRS Board meetings. C. Dave read a letter from Marc Dann, Ohio Attorney General, regarding the practice of holding secret ballots. He stated that the STRS Board must vote as a body at their meetings and that they have been in violation of open meeting laws. Mr. Dann will share our concerns with the STRS Board. Dave sent a copy of the letter to Dennis Leone. He will also send a letter to Mr. Dann requesting that he find someone to replace John Patterson, legal counsel to the STRS Board as a representative of the State Attorney General's office. D. Mary Ellen Angeletti gave an update on John Lazarus, who is still recovering from complications of knee replacement surgery. He wanted to relay to all of the CORE members his thanks for the planter, good wishes and cards during his recent illness and surgery. New Business: HB bill 151, divestiture of Pension funds from investing in terrorist countries, and HB 152, mandating all school boards to offer separate and alternative retirement plans. Both of these bills are detrimental to STRS funding. CORE opposes both bills. Mary Ellen Angeletti proposed we send out as a CORE Alert the letter Dave wrote voicing opposition to the the bills and urging CORE members to write to their legislators. A discussion was held on the morning's health care discussion at the STRS board meeting, the encouragement of members to attend the STRS meeting during the winter months, since many of the regular attendees travel south on vacation during the winter, and the salary increase of the STRS investment staff. The meeting was adjourned. The next meeting will be June 14, 2007. Submitted by Glenna Barr, secretary. generic viagra online generic cialis cheap viagra viagra

Tags: meeting, strs, core, dave, board