6 March 1899: Aspirin trademarked

Chemical company Bayer was awarded a patent for its pain-relieving acetylsalicylic acid powder, or 'Aspirin', on this day in 1899.

As early as the Ancient Egyptians, it was recognised that using the bark of the willow tree would help relieve minor aches and pains, including those caused by colds. However, it was not until 1763 that the medical community started to systematically investigate it, with the Royal Society publishing research into its role in treating fever.

The next major breakthrough came in 1828 when a professor at Munich University extracted the active ingredient from willow, named salicin. By 1876, further tests had shown that this was effective in reducing pain. During the late 19th century, salicylic acid became an increasingly used as a pain-relief drug. However, it has several unpleasant side effects, such as bleeding and nausea, which limited its use.

Chemical company Bayer set to work in 1895 to make a more palatable version of the drug. Two years later, Felix Hoffmann came up with acetylsalicylic acid. Initially, there was some scepticism about its effectiveness compared to other similar products. However, tests vindicated the new powder, which was trademarked by Bayer at 'Aspirin' on 6 March 1899. It appeared in tablet form in 1900 and became prescription-free in 1900.

By the 1950s, it would become the most widely sold painkiller. However, in 1974, research would suggest that it also plays an important role in preventing heart attacks. There is also strong evidence that it reduces the risk of cancer. At the moment, it is one of the top ten generic drugs in the world, with annual sales of around $1.64bn. However, Bayer's patent expired in 1917, meaning that generic competitors would get most of the profits.

Bayer would also lose the US rights to the name 'Aspirin' after it attempted to get around the wartime embargo on phenol, an important ingredient.

Recommended

Share tips of the week – 2 June
Investments

Share tips of the week – 2 June

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
2 Jun 2023
Which house-price index is the best?
Property

Which house-price index is the best?

Britain is obsessed with house prices, and we have at least four house-price indices to choose from to measure the rate of increase in the value of ou…
1 Jun 2023
The top healthcare funds to buy
Investments

The top healthcare funds to buy

Increasingly rapid progress in drugs and healthcare technology makes these trusts top tips, says Max King.
1 Jun 2023
7 winners and losers in the leisure sector
Investments

7 winners and losers in the leisure sector

It’s been a wild three years for hospitality, but crisis creates opportunities, says Michael Taylor of Shifting Shares.
1 Jun 2023

Most Popular

Best savings accounts – June 2023
Savings

Best savings accounts – June 2023

Interest rates have been creeping up - we look at the best savings accounts on the market right now.
1 Jun 2023
Savings inertia - why we should all be obsessed with interest rates and savings accounts right now, says Kalpana Fitzpatrick
Savings

Savings inertia - why we should all be obsessed with interest rates and savings accounts right now, says Kalpana Fitzpatrick

Are savers still missing out on hundreds of pounds by not moving their cash for better interest rates?
30 May 2023
One day left for households to claim the £200 Alternative Fuels Payment to help with heating bills
Energy

One day left for households to claim the £200 Alternative Fuels Payment to help with heating bills

Households could be due a £200 payment if they heat their homes using alternative fuel sources and aren’t connected to the mains gas grid - but time i…
30 May 2023