HEALTH
From Times Staff and Wire Reports
Sandoz to Cut Anti-Cholesterol Drug Price: The company’s move to sell its new medication for as much as 50% less than competing drugs pushed drug stocks lower on fears of a price war. East Hanover, N.J.-based Sandoz Pharmaceuticals Corp. will sell a month’s supply of the newly approved drug, called Lescol, to wholesalers for $30.60. Stock prices of Merck & Co. and Bristol-Myers Squibb Co., which market rival anti-cholesterol drugs, fell. Parent company Sandoz, based in Basel, Switzerland, is not traded on U.S. markets.
