TransCelerate BioPharma Inc., a nonprofit formed by 10 large drug companies in September, has added six members.
Astellas Pharma Inc., Biogen Idec, Braeburn Pharmaceuticals, EMD Serono Inc., Forest Research Institute, and Onyx Pharmaceuticals have agreed to contribute resources, including money and personnel, to TransCelerate, which has a goal of bringing new medicines to the public faster, more cheaply, and more efficiently. To do that, the group said, it is looking for solutions to research and development challenges that are common to all pharmaceutical and biotechnology firms.
Of the 10 founders, half have operations in the Philadelphia area: AstraZeneca P.L.C., Eli Lilly & Co., GlaxoSmithKline P.L.C., Johnson & Johnson, and Pfizer Inc. TransCelerate's offices are at GlaxoSmithKline's Upper Merion campus.
"I don't see pervasive evidence of rapid credit growth, a marked buildup in leverage, or significant asset bubbles that would threaten financial stability. But there are signs that some parties are reaching for yield, and the Federal Reserve continues to carefully monitor this situation."
- Janet L. Yellin , vice chair of the Federal Reserve Board of Governors, in prepared remarks for a conference in Washington on Tuesday.
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