Global Pharmaceutical Companies Pursue New Drug Development
Creatrip Team
a year ago
Major global pharmaceutical companies are increasingly investing in new drug development by acquiring biotech firms and partnering on innovative technologies. For instance, Eli Lilly recently announced the acquisition of SiteOne Therapeutics, a U.S. biotech firm, for approximately $1.3 billion. This acquisition is part of Eli Lilly's strategy to develop non-opioid pain treatments. Additionally, Eli Lilly has partnered with Google's Isomorphic Labs on a $2.3 billion deal for drug development and has entered into agreements with Genetic Leap for RNA-based therapies. Similarly, Pfizer and Sanofi are also making significant investments in new technologies for treatments of cancer and autoimmune diseases. These actions come amidst concerns about potential delays in FDA (U.S. Food and Drug Administration) approvals due to policy uncertainties and staff reductions.
