A recent article on Boston.com discusses Pfizer’s strategy to focus their hunt for their next blockbuster drugs around geographic areas with high concentration of medical academics and research centers.
According to the piece:
The drug giant is betting it can bring more treatments to market by working with academic researchers in medical hubs like Boston. It also has set up satellite centers in New York, San Francisco, and La Jolla, Calif., outside San Diego, to strike alliances in those areas. Overall, Pfizer is committing up to $100 million to such collaborations over the next five years.
Efforts like this illustrate a growing frustration within pharmaceutical companies whose existing progress in new product development and R&D have been frustratingly slow to yield quality opportunities. Pfizer and their competitors are increasingly looking to improve their odds on such giant investment gambles that can make or break them with no mercy and a scarcity of adequate fallback plans.
Article: For Pfizer, Boston’s medical labs a lure (Boston.com)
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