U.S. Government Starts its Own Drug Company
February 07, 2011
The U.S. government, faced with a diminished drug-development pipeline in the private sector, is starting its own federal drug development center. The National Center for Advancing Translational Sciences will receive $1 billion in funding to conduct drug research, with the goal of attracting private investors.
In the past, the National Institutes of Health have usually focused on basic research. But the new science center might take discovery a step further, testing new chemicals in animals or even in human trials.
Popular Science reports:
"The Food and Drug Administration has approved fewer and fewer new compounds every year since 1995 ... [B]ig pharma has been scaling back research spending, and drug giants like Merck and Pfizer have laid off thousands of scientists in the past year alone."