July 5, 2000
Business
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■ ■ M M O N
Wyden passes measure for“retum on investment’
on federally-funded drug research
FCC to study internet access
A ssociated P ress
• Directs NIH Present fo r Plan Companies
to Share profits with American Taxpayers
CONTRIBUTED STORY
eur T u L-E u r il a n d
O bserver
To address growing concern about
the cost o f prescription drugs, U.S.
Senator Ron Wyden (D-Ore.) today
introduced an amendment to the
Labor-Health and Human Service
(HHS) Appropriations Act Directing
for the first time that the National
Institutes o f Health (NIH) send a
proposal to Congress requiring drug
companies to pay a “reasonable”
return on investment to tax payers
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when these companies profit from
government-funded research. The
W yden
am endm ent
p a sse d
unanimously and was incorporated
into the Labor-HHS bill.
“When taxpayers put up the dollars
to fund the critical early research that
brings blockbuster drugs to the
market, it’s lonely fair that taxpayers
see a return on their investment,”
Wyden said.
“ Right now, the American people are
funding ground-breaking research,
and they’re seeing the benefits walk
out the door into the private sector,”
said Wyden. “In some cases, the
taxpayer has already done the heavy
lifting to get these drugs to market.
W hen these governm ent-funded
drugs make m illions, we have a
responsibility to make sure taxpayers
get some reimbursement.”
NIH invested $32 million in research,
but was unable to manufacture the
drug for commercial sale. R ristnl-
M yers Squibb won the right to
produce Taxol, and in 1999 the drug
generated a whopping $1.5 billion in
sale for Bristol-Myers Squibb.
During a 1993 hearing, Wyden asked
Bristol-Myers Squibb to point to their
role in the development process. The
company could not specify what it
had done other than pre-clinical work
and research into alternatives. NIH
did the vast m ajority o f Taxol’s
research and development, including:
all o f the initial collection o f the bark
o f the Pacific Yew, all biological
screening in both cell cultures and
animal tumorsystems, the preclinical
toxicology, and efforts directed
toward total and partial synthesis o f
the drug.
1 he nation s communications regulators are looking at
whether old rules designed to break open the local Bell
monopolies extend to new Web services still in their
infancy.
The Federal Communications Commission said Friday
that it plans to study the matter, in light ofa federal court
ruling issued last week. But the agency’s chief said he
still prefers marketplace solutions to heavy-handed
regulation.
We don t want to get into a situation where people are
rushing to judgm ent or rushing to enforce legal
obligations that really haven’t been fleshed out yet,”
said FCC Chairman William Kennard. “It’s become clear
to me that the FCC will have to address the issues raised
by the court.”
The FCC’s review could have implications for the long-
running debate over whether cable Internet providers
must give other online companies access to their lines.
So far, the commission has declined to impose such a
requirement, fearing that any regulation would slow the
growth ofthe emerging market o f these super-fast Web
services.
Last week, a 9th Circuit Court o f Appeals determined
that local authorities in Portland could not force top
cable company AT&T to open its network to rivals,
saying that only the FCC had jurisdiction over the
matter.
In the course o f its decision, the court determined that
high-speed Internet service delivered over cable lines
constitutes a “telecommunications service” because of
its two-way functions, and is therefore subject to federal
control. That distinguishes it from one-way cable TV
service regulated by a city or other local authority,
according to the court.
The FCC has yet to conclude that cable Internet service
is a “telecommunications service.” Faced with the court
decision, the commission is planning a proceeding to
look at the matter and collect information on the
marketplace.
The definition could prove important in the debate.
T e le c o m m u n ic atio n s
serv ices
su b je c t
to
interconnection are those offered by local phone
companies that must follow detailed regulations meant
There are many reasons that a person might want to investigate a debt
consolidation loan. First let’s descibe this type o f loan.
Debt consolidation loans use low interest money from a refinanced home loan
to pay off and retire:
• High interest loans.
• Unmanaged credit card payments.
• Large and overbearing bills such as medical bills.
As the title suggests, you will be consolidating your debt into one loan at a
better interest rate.
I have seen many situations that warrant debt consolidation. A common need
is to help clients “put back together” their finances after being o ff o f work for
an extended period o f time due to illness or lack of work. The reality is that bills
can stack up faster than we can pay for them when our situation changes.
This is the point where a good loan officer can be o f great help. In the final
analysis, you should look at the before and after picture of your monthly and
yearly outlays for debt service. For
many people the stress relief o f once
again having manageable monthly
payments is worth a lot.
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D on’t forget to ask these questions:
• Is my new rate fixed?
COD • C A TD JSH • SN A D P C K •
SO LO • SA L M O N
• How long is my rate fixed?
C L A M S • O y S T C K S • l ’R / \ W N S • S C A L O O D S O IA P S
• If my rate is not fixed, when can it go
up?
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• How often can the rate adjust?
• Specifically, how much is it going to
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cost me to do this type o f loan?
• Is there a repayment penalty?
• GET A SIGNED GOOD FAITH
>
F ESTIMATE!
T hat’s it for an overview o f debt
consolidation loans. If you have any
suggestions for future articles,
Please let me know. You cane-mail me
at DAVIDLfeteleport.com, or give me
a call a t234-5160.
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Metro from
to crack open the old monopoly system. For example, a
Bell company must allow a start-up phone company to
connect to its network, as long as it is technically feasible
and the systems are o f equal quality.
Kennard, long an advocate o f a hands-off approach
toward cable online service, said that despite the court’s
ruling, the FCC has flexibility in crafting national policy.
And even if the commission ultimately decides that cable
Internet service is a telecommunications service, it still
could hold off from applying the old regulations used to
break up the phone monopoly.
“Call ing this a telecommunications service doesn ’ t mean
that it invokes all o f the traditional telephone regulations.
It just establishes a certain framework,” said Kennard. He
said the court made clear that the FCC has the authority
not to impose regulations.
But Internet service providers are using the court’s
decision to press ahead on their efforts to get access to
cable networks, invoking established telecommunications
rules.
“The court has been the one to step forward and create
policy on this issue,” said Kristan Van Hook, o f the
openNET Coalition, a lobbying group.
The nation’s No. 2 Internet service provider, EarthLink,
said it is weighing its options given the court’s decisions.
“This opens a whole can o f wonms that, from AT&T’s
perspective, it would probably just as soon have avoided,”
said Dave Baker, the company’s vice president ofpublic
policy and law.
And a Portland company called Internet Partners said it
has scheduled a meeting with AT&T officials next week
to seek to offer its service on the company’s cable
systems. AT&T has said it would allow other Internet
companies onto its network, but not until 2002 when it
ends an exclusive arrangement with online provider
ExciteAtHome.
But company officials do not believe that the court’s
ruling gives Internet providers the right to muscle onto
their networks.
They also stressed that Internet service providers are
different from local phone companies and wouldn’t be
entitled to the same rights under law.
On Friday, spokesman Jim McGann said AT&T hopes
the FCC’s proceeding will offer clarification on the issues
raised by the court.
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page 1
help determining - is what kind o f
changes beyond that point would be
the most productive. Options include:
• Merging the Executive Officer and
Presiding Officer positions into one
leadership position. That person
would be elected regionwide.
• Eliminating the Executive Officer
position and leave the C ouncil
structure as it is (with the Council
choosing a Presiding Officer each
year) and have the Council appoint a
regional administrator.
Having the Presiding Officer elected
regionally and have the Council
appoint an agency administrator.
To get public advice, the Council is
c irc u la tin g a su rv e y an d has
scheduled a number o f “roundtable”
discussions as well as a series of
public hearings in all areas o f the
region. FormerGov. Barbara Roberts
will lead most o f the roundtable
sessions, and she will make a formal
report back to the Metro Council
follow ing this phase o f public
involvement.
Testimony can be submitted by e-
mailtobillingtonc@ metro.dst.or.us,
by phone at (503) 797-1540, by fax at
(503) 797-1793 or by mail at Metro
Charter Reform, 600 NE Grand Ave.,
Portland, OR 97232.
For more information about any o f
the roundtables or public hearings,
call (50 3 ) 797-1942 or e-m ail
steeleb@ metro.dst.or.us. All o f this
in formation and more is provided on
M etro’s web site at www.metro-
region.org.
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