This month, 10 major drug firms announced their participation in TransCelerate BioPharma, the largest-ever collaboration to speed up drug development. Abbott, AstraZeneca, Boehringer Ingelheim, Bristol-Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Pfizer, Roche’s Genentech and Sanofi will pool funds and personnel for TransCelerate projects, which will initially focus on five projects for streamlining clinical trials. One project will help researchers create a standard for recording clinical trial data so as to more easily compare information. TransCelerate will also develop an online portal to connect pharmaceutical companies. The group will work to standardize the way clinical trials are qualified and researchers are trained. The group will also help firms obtain other companies’ drugs that are on the market for use in comparative trials. TransCelerate’s interim CEO said the group’s budget will be millions of dollars. Other firms and organizations can join the group, which may extend its projects to drug discovery.

Source: The New York Times