Big Pharmas are cutting costs; Bristol-Myers Squibb Co., Wyeth, Pfizer, Merck & Co., Schering-Plough Corp. and GlaxoSmithKline plc have all announced reductions in their U.S. sales forces. They're also worrying about life under the
Democrats.Do they still want to replenish their pipelines with high-priced biotech drugs? James Greenwood, president and CEO of Biotechnology Industry Organization thinks so.
Greenwood sat down with PharmaWeek and had this to say about
deals to come:
Big Pharma has had some difficulties with their pipelines, yes, and we think the solution lies in continued collaborations with biotechs and small companies without their own products, that are focused on drug discovery. Given the credit crunch, these biotechs are particularly available right now for collaborations of various kinds - M&A, investments, licensing deals. So the best way to continue bringing new products to market is through healthy, mutually sustaining relationships between biotechs and Big Pharma.
While pharma is scaling back in the U.S., it's looking to expand in
overseas markets such as China.
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Baz Hiralal
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