Yes, the bar is a lot higher now than a decade ago but, if your drug is able to clear it, it will be hailed as a major new medical advance.

FORBES: Will Merck's Failure With Tredaptive Impact How Drugs Are Approved in Europe?

Besides the usual hotel room, lengthy telephone calls (yes, even in 1900) and, of course, a hefty bar bill, our late colleague seems to have claimed shamelessly for a spending spree on various personal items.

ECONOMIST: Inflation since 1900