partnership where a company would partner with another on one specific project, we are now seeing long-term arrangements and joint ventures. The industry is shifting so that pharmaceutical companies are motivated by the long-term earning potential with the increase of life expectancy along with the increase of comorbidities that come with a longer lifespan. There is more revenue to be gained from treating long-term conditions and inventing new medicines to more effectively treat those chronic conditions. In this new realm of collaboration, the pharmaceutical company invests time and resources with the university’s brain power (students and faculty) to form a partnership. Examples of this are seen in multiple places such as Arch Therapeutics signing an agreement with the University College Cork School of Pharmacy, AbbVie and Northwestern University’s Lurie Comprehensive Cancer Center, Astellas and the University of Texas MD Anderson Cancer Center. A perfect example of the long-term vision for this partnership is Pfizer’s creation of its “Innovative Target Exploration Network (ITEM)” which is a branch dedicated entirely to early- stage partnering with academic institutions. Its mission is to identify valuable partnerships in attractive markets with strong growth projections. Already, this branch is partnering with the University of Cambridge, the University of Oxford, and the University of Texas Southwestern
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- Fall '17
- Pharmacology, pharmaceutical companies, Partnership (AMP)