London, April 15 (Bloomberg) -- Glaxo Wellcome Plc's Allen Roses, worlkwide director of genetics, on the agreement between Glaxo, nine other drugmakers and the Wellcome Trust medical charity to fund a $45 million gene-research project. The so-called SNP consortium aims to identify... blah blah
"many of the participating companies actually said they would rather have it in the public domain. The consortium was brought together to get a useful tool that could be used by everybody."
"The realities of the marketplace of developing drugs are such that large companies, as opposed to smaller biotechs, have numerous compounds coming into development every year. At that point -- early development -- you really don't know which compounds are going to fall off the map. To pay a very large up-front fee for a pharmacogenetic analysis of a compound early does not make sense."
"the companies understood this and basically have agreed to put this into the public domain and help support if so it gets done quickly. i think this is the first of what wll be a number of ways in which the drug companies will contribute to the public efforts."
"the project's been ongoing since January. This is not a pie-in-the-sky kind of deal. In two years, I expect to be able to use 300,000 SNP's for drug development at Glaxo Wellcome"
Does this sound pompous to anyone else???? On a serious note... is INCY charging that much for their services so as to chase potential customers to this, or are these being penny wise and pound foolish?
This one burns my ass:
[The realities of the marketplace of developing drugs are such that large companies, as opposed to smaller biotechs, have numerous compounds coming into development every year.]
DAK |
