Good News for the Healthcare Industry
Posted on Thu, Oct 01, 2009 @ 10:50 AM
With all the noise in the news lately about the healthcare reform battles being 
fought, there was some very positive news for the pharmaceutical, biotechnology and medical technology industries yesterday that I think may have gone unnoticed by many.
On Wednesday September 30th, President Obama announced a plan to spend $5 billion on medical and scientific research, medical supplies and upgrading laboratory capacity.
This is great news for the pharmaceutical, biotechnology and medical technology industries. Promising new treatments and technologies discovered as the result of NIH-funded research are usually developed and commercialized by private sector companies. More investment in NIH research means more opportunities for technology transfer to pharma, biotech and other companies through Cooperative Research and Development Agreements (CRADA). The list of successful pharmaceutical and biotechnology products developed as the result of CRADAs is extensive, and includes breakthrough cancer treatments such as Taxol and Velcade.
Government investment in medical research has contributed to enormous growth for the pharmaceutical, biotechnology and medical technology industries through technology transfer. Most importantly, these investments have improved the lives of millions of patients.