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Article: No Longer Anonymous, Drug Maker AHP Struggles with Redux.(Originated from The Star-Ledger, Newark, N.J.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 14, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sep. 14--Last spring, executives at American Home Products Corp. were grappling with every drug maker's worst nightmare -- a troubled product that was increasingly tied to dangerous side effects. The medicine making them queasy was Redux, a new diet pill that only a year earlier was forecast by Wall Street to eventually generate $1 billion in annual sales.
So the Madison drug maker hired Robinson, Lerer & Montgomery, a pricey public relations firm in Manhattan best known for managing crises. At one time or another, its roster of clients has included former junk-bond king Michael Milken, as well as companies in need of makeovers, such as Prudential Insurance ...