WHITEHOUSE STATION, N.J. (AP) – Drugmaker Merck & Co. and Britain’s largest charity, the Wellcome Trust, are starting a not-for-profit partnership to create affordable vaccines against diseases common in poor countries.
The joint research venture will develop new vaccines for diseases with unmet need and also work to improve existing vaccines.
The partners will initially put up equal cash contributions – a total of $130 million over the next seven years. The venture will be based in India and will have about 60 researchers and developers on staff.
Whitehouse Station, N.J.-based Merck and Wellcome say it’s the first time a research charity and a drug company have partnered to form an organization that equally shares funding and decision-making.
Date: September 17, 2009
Source: Associated Press
Filed Under: Drug Discovery
