Big Pharma Going Bio-tech For Stem Cells
What do you think of big pharmaceutical companies moving beyond their normal drug research and into the bio-tech industry? In years past big pharmacy companies like Pfizer and GlaxoSmithKline have focused all their money and research on forwarding the medicines and drugs available to the market. Where as the bio-tech industry is focused on treatments of specific conditions through medical research in genetic engineering. Which in case you did not know is becoming a very big deal as more freedoms become available to do stem cell research.
As the drug industry has seen some big declines in business just like everyone else in this economy the companies are starting to branch out to other industries. Both Pfizer and GlaxoSmithKline have made announcements that they are pursuing interest in the bio-tech industry. Specifically with research units for furthering stem cell research. The first to make the move was GlaxoSmithKline when they entered into a 5 year $25 million dollar agreement to develop new therapies for a wide variety of medical conditions with the help of the Harvard Stem Cell Institute. That announcement was followed up later in the year with the recent announcement that Pfizer has created an independent research unit dedicated to stem cell research, the unit will be called the Pfizer Regenerative Medicine Research Unit…. that was a mouthful!
Why do I bring this up? Because up until recently big money and big companies have not been jumping into the stem cell research business. Most of the stem cell research that has been done up to now had been done by smaller bio-tech companies. Now that opinions and interests are shifting and stem cell research is gaining some footing in both legal circles and public opinions the big money for research is starting to come on board. One can only hope that now that stem cell research is getting some backing that in the next few years we will start to see the medical breakthroughs for cancers, diabetes and other medical conditions that researchers feel stem cells hold a lot of possibilities for.
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