Faster Entry Sought for Generics
Despite efforts to speed up approval of generic drugs, Americans still spend billions extra for prescriptions because of delays engineered by brand-name pharmaceutical companies. Pending legislation could help.
Biotech IPO Pipeline Fills Up
With the biotech sector surging this year, private companies in the field see a chance to pull in some cash. But follow some key steps before buying.
Financing On Target For A Stellar Year
It’s beginning to look a lot like 2001 – or better. In the first nine months of 2003, biotech companies raised nearly $11.8 billion in new funds (excluding revenues and payments from corporate partners), putting the sector on track for at least equaling – if not topping -the $14.7 billion raised in 2001. We’ve already beat 2002′s total of $10.9 billion for the year and chances are excellent that 2003 will turn out to be the second-best fund-raising year ever.
Affymetrix sells new gene chip / Chip represents full human genome
Affymetrix Inc. of Santa Clara won the race Thursday to market a single gene chip packed with fragments from each of the 35,000 known genes that make up the human genome.
But two other Bay area companies, Agilent Technologies of Palo Alto and Applied Biosystems of Foster City, are close behind with their own versions of a whole-genome microarray, or chip.
The chips mark a major technical advance in the use of human genetic information to find new drugs, and eventually, to tailor treatments based on differences in each patient’s DNA.