Researching and developing a cargo cult airport is a funny thing. You watch the Allied forces build their airport. How do they light the airstrips without fire and smoke? Perhaps it's important to have that kind of light but you just don't know how to do it. You have to do something. Pfizer is going to try a new way at conducting R&D.
LA JOLLA, Calif.--(BUSINESS WIRE)--The Scripps Research Institute today announced it has entered into a five year research collaboration with Pfizer Global Research and Development to advance scientific knowledge of uncured diseases and novel ways to treat them, making full use of emerging technologies and resident talent from both organizations. Under the terms of the agreement, Pfizer will pay Scripps Research $100 million over a five year period, during which scientists from Pfizer and the Institute will work together to identify and perform specific projects of mutual interest.
Pfizer, like all other drug companies, is running out of time on the big profit patents. The old R&D methods aren't producing. They sent out talent scouts to find the next way of discovering drugs.
They found that the best researchers are right here in the good o'l U.S.A. God bless them for that.
Eli Lilly seems to be eliminating R&D as a way of pumping up their pipeline. Recently they bought ICOS for 1.2 billion dollars to have full control of the drug Cialis. That's one drug in the bag. The R&D efforts at ICOS are not expected to continue. And there is more.
NEW YORK, Nov 30 (Reuters) - Eli Lilly and Co. (LLY.N: Quote, Profile , Research) said on Thursday it will take a restructuring charge of $100 million to $110 million primarily in the fourth quarter related to its previously announced closing of a research facility in Belgium.
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