Last August the Justice Department's Antitrust Division brought suit against three major drug makersAmerican Cyanamid. Bristol-Myers and Chas. Pfizer & Co.on charges that they had conspired to fix prices of three "broad spectrum" antibiotics. The trustbusters' charges were similar to those that the Federal Trade Commission had been pressing since 1958 against six drug companiesincluding the three under fire from Justice. Last week the drug industry got a shot in the arm when FTC Hearing Examiner Robert Piper ordered dismissal of the FTC charges.
After wading through 19,000 pages of testimony and...
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