The Federal Trade Commission warned a House subcommittee Friday about the potential dangers posed by the rapid proliferation of online prescription services.
Jodie Bernstein, director of the FTC's Bureau of Consumer Protection, said that "the current practices of some online pharmacies and of some physicians that provide online prescription services indicate the potential for serious consumer injury."
The FTC recommended that Congress at least consider whether any legislation requiring thorough disclosure by online pharmacies and prescribing physicians is necessary to assist state law enforcement efforts.
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Martha Stewart goes IPO: The empire of America's favorite homemaker, Martha Stewart, is going public.
Stewart's Manhattan-based Living Omnimedia includes two magazines, an Emmy Award-winning television show, 27 books, a radio show, a weekly newspaper column and a Web site, according to its initial public offering filing with the Securities and Exchange Commission Thursday.
It has distributed its products, including bed and bath items, interior paints, craft kits, outdoor furniture, and garden tools through outlets that include Sears and Kmart stores nationwide.
Retail sales of Martha Stewart merchandise by Kmart and others reached $763 million last year, an increase of 96 percent over 1997. In 1998, revenue was $180 million and operating income was $27.4 million, representing a 36 percent and 65 percent rise, respectively, over 1997's figures, the SEC filing said.
The company did not disclose the number of shares it might put in the IPO, their estimated price range, or other details in its preliminary prospectus, but it was expected to add details in subsequent filings.
Reuters contributed to this report.
