We may be witnessing a slowly developing economic recovery, but that's little consolation to the pharmaceutical industry. This year, according to the New York Times, drug companies will see annual sales of almost $50 billion evaporate. Why? Because the patents for more than 10 major drug brands will expire.

It's a reality that has lingered for years. A drug company invests huge amounts of money in R&D and finally wins approval to bring a drug to market under a brand name.

But that drug can only be protected by a patent for a certain number of years; when the patent expires, generic versions of the drug can be sold, almost always at a cheaper price. Take Tylenol, for example, one of the brand names for acetaminophen. Continue reading...

Abbott backs effort to end childhood malnutrition.

AMC renews Mad Men for a fifth season.

Best Buy sales hurt by holiday tech slide.

BlackBerry to be censored in Indonesia.

BP back in the hot seat with oil leak in Alaska.

Clarins new global campaign not "overly retouched."Continue reading...