Here’s a company that’s getting a second life as back in 2009 the Iceland facility was looking at bankruptcy. More and more pharmaceutical companies are buying up genetic companies, why? They need them and their technology to help create and develop new drugs.
DeCode Genetics Files for Bankruptcy in the US – Iceland Facility Likely to Go On Option Block
Glaxo purchased Human Genome to add to their research and development of new drugs as another example of big pharma investments in genomics. Earlier this year the FDA approved a generic version of one of their chemotherapy drugs but won’t be available until next year. Drugs are getting expensive to develop and drug makers are going to need the genomic research to to help them target faster and simulate properties to get products into clinical trials with faster methodologies. Genomic research can help make that happen. BD
From the deCODE website:
“Headquartered in Reykjavik, Iceland, deCODE is a global leader in analyzing and understanding the human genome. Using its unique expertise and population resources, deCODE has discovered key genetic risk factors for dozens of common diseases ranging from cardiovascular disease to cancer. deCODE employs its capabilities to develop DNA-based tests and personal genome scans to better understand individual risk and empower prevention. It also licenses its tests, intellectual property and analytical tools to partners, and provides comprehensive value-adding genotyping, sequencing and data analysis services to companies and research institutions around the globe.”
Amgen acquired deCODE for more than its patents, genetic testing business, or drug development projects—although there is plenty of value there. Amgen bought deCODE for its powerhouse research engine—including its talented genomics scientists, tools, and data.
Robert Bradway, president and CEO at Amgen, describes the rationale for the acquisition by stating that deCODE’s “capability will enhance our efforts to identify and validate human disease targets. This fits perfectly with our mission to pursue rapid development of relevant molecules that reach the right disease targets while avoiding investments in programs based on less well-validated targets.”
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