The fact that Assembly Biosciences Inc. and AgeneBio now list New York and Baltimore, respectively, as their headquarters cities doesn’t hurt Indiana and could help the state, says David Johnson, CEO of BioCrossroads.
With federal research funding declining, drug companies are taking a larger role funding the medical research happening at IU and universities around the country. That's not the same thing as paying to market drugs, but it's hardly without controversy.
Indiana physicians and research organizations reaped more than $25 million in payments from 15 pharmaceutical firms in 2012, according to the most recent data made available by the not-for-profit group ProPublica. Lilly was the biggest spender and the IU medical school was the biggest recipient.
The news this morning couldn’t have been worse for Endocyte Inc. But if it had to come, the timing couldn’t have been better--because it allowed Endocyte to raise a pile of cash to spend on the other drugs in its pipeline.