Recent news
January 2011
Increasing number of nonprofit, for-profit pharmaceutical companies partnering to advance global health drug development
January 5, 2011 -- An increasing number of nonprofit pharmaceutical companies are working with for-profit companies to develop drugs for diseases of the developing world. For example, the Institute for OneWorld Health (iOWH) has partnered with the for-profit drug companies Gland Pharmaceuticals and Sanofi-Aventis to produce treatments for visceral leishmaniasis and malaria, respectively. Many other nonprofit companies—including Biotechnology for Sustainable Development in Africa and the Acumen Fund—work with for-profit counterparts to tackle health and other development issues in low-income countries.
In addition, more for-profit companies are launching nonprofit models, while nonprofit organizations are attempting to incorporate for-profit business practices to stay solvent. “At one time, people in the nonprofit world had a disdain for business, and business people thought nonprofits were without discipline,” said Jack Faris, CEO of the nonprofit Pacific Northwest Diabetes Research Institute. He added, “People have matured a substantial amount beyond that. … There’s much more appreciation of the role that each plays and a readiness to work together.” See the link below for more details.
