AstraZeneca, Pfizer and Merck partner with Quebec government
17 Jun 2008
Pharmaceutical companies AstraZeneca, Pfizer Canada and Merck Frosst Canada have announced that they will be working with the Quebec government on a new initiative aimed at encouraging research into new drugs.
Each company will contribute $1 million (£500,000) in the first year of the initiative to help fund the research and Pfizer Canada and AstraZeneca Canada are also planning to invest $1 million a year over the next four years.
The collaboration is aimed at bringing together experts from the pharmaceutical industry with academics to stimulate research into drug discovery and development.
Dawn Graham, president of Merck Frosst Canada, commented: "By focusing on the discovery of new targets and the initial steps of drug discovery, our university graduates will be much better prepared for a career in the biopharma industry."
In related news, AstraZeneca recently made an application for once-daily Seroquel tablets to be approved as a treatment for major depressive disorder in Europe.