Following the slowdown in sales of their blockbusters, pharmaceutical giants are increasingly investing in private companies that are in the early stages of testing potential new drugs. In 2006, Pfizer and its sisters made 29 venture capitalist-backed acquisitions totaling $2.29 billion. An amount that rose in the first quarter of 2007 alone to 4.41 billion dollars, with 18 take-overs concluded. But the pharmaceutical sector is also increasingly attracting the attention of the government. The Food and Drug Administration will soon launch a drug research facility funded by medical giants. The foundation will be called Reagan-Udall, it will have a board of 14 members (four of which are CEOs of pharmaceutical companies and the rest are researchers and doctors) and will be a point of reference in the development and testing of new drugs. Banca Finanza of 07/12/2007 N.12 – DECEMBER 2007
