Pfizer's quest to find a more productive way to discover and advance important new treatments is taking the pharma giant on a journey back to college in Boston. With some of Pfizer's R&D luminaries joining hands with top politicians, the company announced a $100 million, five-year plan to establish a new Center for Therapeutic Innovation in the heart of the thriving biotech hub. Some 50 investigators will be brought in to work in teams with researchers at local universities and hospitals.
Pfizer--which spent $9.4 billion last year on R&D--is one of a group of Big Pharma companies which have far too little to show for their massive budgets. As a result Pfizer has joined Sanofi, GlaxoSmithKline and others which have pronounced themselves fed up with the old way of developing a pipeline, declaring a shift toward a new "open ecosystem" in which corporate researchers link up with outside groups--particularly at top research colleges--in search of inspiration and success.
To read the full, original article click on this link: Pfizer unveils $100M Boston effort to spark R&D innovation - FierceBiotech
Author:John Carroll
