A new US$1 billion fund backed by 20 drugmakers including Merck & Co Inc and Pfizer Inc is aiming to bolster struggling antibiotic companies and ...
A new US$1 billion fund backed by 20 drugmakers including Merck & Co Inc and Pfizer Inc is aiming to bolster struggling antibiotic companies and sustain a pipeline for new treatments, an industry group said on Thursday.
Antibiotic makers have struggled with anemic investment and bankruptcies, even after the approval of new drugs, as fears of drug-resistant microbes force hospitals to adopt a more conservative approach toward such treatments.Public health authorities have raised alarms about a looming health crisis, saying deaths from antibiotic-resistant bacteria could dwarf that from the coronavirus pandemic.
The initiative"gives these biotechs access to the kinds of capabilities that large pharmaceutical companies have, such as manufacturing and regulatory," said Silas Holland, head of external affairs for the fund and director of global public policy at Merck.
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