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Is any water safe to drink?

Without a doubt, the following article is more frightening than any bear market recession. If you haven't heard, there's apparently many more contaminants in the nation's water supplies than one might think conceivable.

According to the piece from the Associated Press, major metropolitan water sources (e.g., Philadelphia, Washington, D.C.) read positive for very small amounts of various kinds of pharmaceutical particulates -- we're talking sex hormones, antibiotics, cholesterol-lowering nostrums, drugs that combat heart ailments, depression/anxiety, asthma, etc.

Maybe I'm naive, but I was caught completely off guard by this study. Imagine tiny traces of prescription medications floating around in the water both you and I consume -- makes me shudder. And, yes, although I drink bottled water exclusively, this aqua source is not necessarily out of harm's way -- remember that a lot of bottled water might only be filtered from municipal sources. Also, the article says that water from wells might be contaminated, as well as water treated by home filtration units -- apparently it takes unique processes to filter out pharmaceuticals, such as reverse osmosis.

Continue reading Is any water safe to drink?

GlaxoSmithKline profit plunges on drug fears and competition

European pharmaceutical giant GlaxoSmithKline PLC (NYSE: GSK) stated today that its Q3 profit dropped 5.8% on slowing sales of its Avandia product along with stiffer competition from generic versions of many of its popular products. This was to be expected, as it was mentioned in GSK's last quarterly results as a warning on future guidance. But the firm is not sitting still while some of its sales are being taken by generic competitors, that's for sure.

The world's second-largest drugmaker after U.S.-based Pfizer, Inc. (NYSE: PFE) said that it will be rolling out a $3 billion program designed to cut costs amid an expected drop in 2008's profit due to -- you guessed it -- generic competition. The company is expecting the sales decline in its Avandia diabetes drug product to continue into next year as well.

Avandia, once one of GSK's most promising products, saw sales plummet off the deep end in the latest quarter. In the U.S., the drug saw a 48% decline. The drop was partly due to safety concerns around the drug that arose this summer after a negative article in The New England Journal of Medicine affected prescriptions globally. GSK CEO Jean-Pierre Garnier said job losses will be unavoidable, but did not go into specifics. However, GSK did reaffirm its outlook for the current fiscal year, saying that EPS growth of between 8% and 10% would be expected at constant exchange rates.

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Last updated: November 11, 2009: 03:13 AM

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