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on the cover The time for transparency The government, medical journal editors, and general public are clamoring for the pharmaceutical industry to provide complete information about ongoing and completed clinical trials. There has been a flurry of activity, announcements, and mandates in this area, and companies are rethinking their policies on clinical-trial registries. FEATURES Translational research: Making the transition from R to D There is growing interest in translational research, which aims to bridge the gap between advances in basic research and the development of safe and effective therapies. DTC: The next phase In light of FDA guidances, more public scrutiny, and trending corporate citizenship, DTC advertising is subtly shifting to direct-to-education. Ideology vs. science: The stem-cell battle Across the globe, scientists are extolling the potential of stem-cell research to cure debilitating diseases, in spite of limits on federal funding as well as controversy surrounding the research. States and private investors have begun to step into the fray. Risk aversion as a profitability-limiting factor in clinical-trial conduct Dr. Timothy Pratt of MedNet Solutions discusses why risk mitigation is needed from a corporate profitability perspective. David King — Regal Legal Years of representing the life- sciences industry during his career as a lawyer have given David King a fresh perspective on the biotech industry. Now he draws on that expertise to lead a young company, BioRexis. in every issue Letter from the Editor Opinions For Art’s Sake A creative review by the experts PharmaOutlet Jim Montgomery talks about effective communications. PharmaTrax Sales, marketing, and R&D trends from industry analysts What’s New New healthcare-related products, services, and companies E-Media New electronic and Web-based applications, sites, and technologies On The Calendar Industry events Talent Pool Executive appointments and promotions