Updating our Indiana Law Blog entry yesterday (scroll down) on how "many cities and states are scrambling to attract biotech businesses that bring well-paying jobs and lucrative tax revenues" is this story today in USA Today on how "big pharm" is partnering with biotech startups. Some quotes:
SAN FRANCISCO — Merck, the pharmaceutical giant racing to replenish its drug pipeline, hatched a $100 million partnership in November with a tiny biotech start-up in Cambridge, Mass.Posted by Marcia Oddi at March 23, 2004 12:19 PMEli Lilly, another drugmaking stalwart, is plunging into the sizzling anti-impotence market ruled by Viagra with help from a young biotech near Seattle. * * * Lilly, for one, has launched about 100 partnerships, mostly with biotechs, many in the last five years.