India: Big Pharma’s New Promised Land?
For years, software companies have known that they can slash costs by hiring eager, smart, and inexpensive programmers and engineers in India. Following in software’s footsteps, corporations providing telephone support and back-office services soon saw the virtues of India’s well-trained workforce as well. Now, Big Pharma is discovering the same benefits, as multinationals such as Pfizer, GlaxoSmithKline, Bristol-Myers Squibb, and Novartis tap India’s research and manufacturing prowess to cut costs and speed development of new pharmaceuticals.
Genetically engineered Glofish spark controversy
The nation’s first genetically engineered pet glows in the dark and has been lighting up cash registers in Michigan pet shops. But Glofish, created by splicing a sea anemone gene into a zebra fish, may not be available for long.
Counterfeiters have moved beyond bogus currency and fake designer handbags into the lucrative world of prescription drugs, setting off a technology race to foil copycats who profit on phony pharmaceuticals.
Biotech industry raises $16.4B in new funding in 2003
The biotechnology industry raised $16.4 billion in new financing and earned 37 FDA approvals in 2003, the Biotechnology Industry Organization in Washington, D.C., said Monday.
New work shows the promise, and pitfalls, of embryonic-stem-cell research