Why Big Pharma's $1 Billion Bet to Prevent a Bacterial Pandemic Matters for You
Some might think of big pharmaceutical companies as cutthroat corporations only interested in their own profits and self-preservation. But what if told you that several big pharma companies are together investing close to $1 billion to help smaller biotechs?
Believe it or not, that's exactly what's happening. Last week, over 20 top drugmakers announced the launch of the AMR Action Fund. Key investors in the AMR Action Fund include Pfizer (NYSE: PFE), Roche (OTC: RHHBY), Eli Lilly (NYSE: LLY), Merck (NYSE: MRK), and Johnson & Johnson (NYSE: JNJ). These and other leading companies in the biopharmaceutical industry have already raised nearly $1 billion and hope to increase the total to more than $1 billion.
Here's why these big pharma companies are ponying up so much money to help small biotechs -- and why it matters for you.
Source Fool.com
