Biopharma companies pledge $1B to fund antibiotics R&D as field shrivels; Four biotechs hunt $797M+
→ As promised, a group of some 20 biopharma companies have pooled close to $1 billion to fund new research in antibiotics — a field that has been dying of late. Small margins and tiny markets have killed off a slate of players in the field and drove out most of the big organizations. Now Eli Lilly, Pfizer and others hope to foot the bill for a group of 2 to 4 new antibiotics in the next 10 years. Pfizer alone pledged $100 million for the industry effort. “With the AMR Action Fund, the pharmaceutical industry is investing nearly $1 billion to sustain an antibiotic pipeline that is on the verge of collapse, a potentially devastating situation that could affect millions of people around the world,” said David Ricks, Eli Lilly CEO and president of IFPMA.
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