Fwd: Tell me drug companies don't make $$ on vaccines

[Guest guest]

Hope you guys don't mind...I'm just going through old mail and sending

things are are interesting!!

>

>> " Powderject, Glaxo in Hepatitis Pact "

>> Reuters (03/04/98)

>> A collaborative agreement reached on Wednesday between

>> Powderject Pharmaceuticals and Glaxo Wellcome to develop DNA

>> vaccines could become the largest drug research and development

>> collaborative agreement in Europe. Under the terms of the

>> agreement, Glaxo received the exclusive worldwide rights to use

>> Powderject's dry drug delivery technology to commercialize

>> vaccines, starting with a Hepatitis B vaccine that is now in

>> Phase I clinical trials. Furthermore, Glaxo will invest $20

>> million in Powderject through a purchase of 7.71 percent of the

>> company, make an initial $4 million payment for license fee for

>> the Hepatitis B vaccine, fund the cost of research and

>> development and clinical trials, and pay royalties and other

>> milestone payments. The agreement also covers the development of

>> DNA vaccines for HIV, cancer, and six other therapeutics not

>> specified.

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