10 drugmakers team up to improve testing process

September 19, 2012 by The Associated Press

(AP)—Pharmaceutical industry heavyweights are teaming up to address a challenge that's long vexed drugmakers: how to improve the way experimental drugs are tested so they can get approved, and reach patients, faster.

Ten top U.S. and European drugmakers have started a , called TransCelerate BioPharma, to collaborate on the problem.

across the industry has been declining, with thousands of potential drugs failing for every one approved, but testing costs keep rising.

The new group will develop strategies to make it easier and quicker to set up and run of experimental drugs.

Initial participants include Pfizer, Johnson & Johnson, Bristol-Myers Squibb, Eli Lilly, Abbott, GlaxoSmithKline, AstraZeneca, Sanofi, Boehringer Ingelheim and Genentech.

The group's CEO, Garry Neil, says he expects to have initial results next summer.

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