Universities Ramping Up Efforts to Discover Drugs
10/22/2013 8:47:57 AM
Merck ’s recent announcement about dramatically cutting R&D is just the latest such move in the pharmaceutical industry. Merck joins a number of companies including Pfizer , Lilly, AstraZeneca , etc., who have reasoned that decreasing sales due to patent expirations necessitates “right sizing” its internal R&D operations. All of these companies have sought to lower costs through greater efficiencies and slimming down R&D programs. However, to meet the budget goals, far more drastic cuts are needed and so companies are eliminating a good deal of their “bricks & mortar” – the R&D labs. The labs where iconic drugs such as Singulair, Lipitor, Viagra and Celebrex no longer exist as they have fallen to the budget axe.
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