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A Shot in the Arm for Squibb
(FORTUNE Magazine) – Squibb's much-touted high blood pressure medication, Capoten, was hobbled when problems with side effects led the Food and Drug Administration to approve it only as a drug of last resort (FORTUNE, October 19, 1981). In 1982 the FDA expanded use of Capoten to include treatment of congestive heart failure and in July, convinced that serious side effects occur mostly in gravely ill people, removed restrictions on the drug. Security analysts say sales of Capoten could rise from $174 million in 1984 to $600 million by 1990. The news boosted Squibb's stock to a 20-year high, near $70 a share. |
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