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Biotech

Submission + - Big Pharma's Open Source Biology

An anonymous reader writes: Big pharmaceutical companies used to hoard genetic information to themselves. But this Forbes story says that Novartis and Pfizer are now giving genetic info they found away for free, because it is worth more to them to have lots of researchers working on it than to keep it away from competitors.

http://www.forbes.com/business/2007/02/12/novartis -genes-diabetes-research-biz-cz_mh_0212novartis.ht ml

This represents a big change from a decade ago, when companies bought up genetic databases for hundreds of millions of dollars — then found out that they couldn't really use these to invent new medicines.

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