A collaboration between ten leading biopharmaceutical companies has been initiated: Abbott, AstraZeneca, Boehringer Ingelheim, Bristol-Myers Squibb, Eli Lilly and Company, GlaxoSmithKline, Johnson & Johnson, Pfizer, Genentech a member of the Roche Group, and Sanofi launched TransCelerate BioPharma Inc. (“TransCelerate”) – a non-profit organization with hopes to accelerate medical innovations.
A not-for-profit business model would likely encourage more sharing of research knowledge and solutions between the major pharmaceutical companies involved, avoiding duplication of research efforts that tends to be a consequent of the competitive environment that R&D by drug companies usually operates in.
Does TransCelerate BioPharma properly address the fundamental issues in drug R&D? Come discuss the efficiency of R&D business models at the 6th Annual BioPharma Asia Convention 2013, held in Singapore, 18 -21 March 2013.
Source: “Drug Makers Join Efforts in Research”, The New York Times, 19th September 2012.