Politics

AstraZeneca PLC may be the UK’s largest company, but it and other pharma giants rely in small-cap biotech for new medicines, according Arix pair

Following the financial shake-out, AstraZeneca PLC (LON:AZN) has become the UKs largest company, underlining the importance to the economy of the healthcare industry.

However, the last available data from the Food & Drug Administration reveal a majority of new medicines that came through the approval process originated from the labs of some worlds smaller R&D firms.

“Thats because Big Pharma needs to meet the demand for new medicines by supplementing their own pipelines with ideas and products from smaller, innovative biotech companies,” said Jonathan Tobin, managing director of London-listed venture capital firm Arix Bioscience PLC (LON:ARIX).

Christian Schetter, the firms entrepreneur in residence, added: “Biotech is at an inflection point. Were seeing potential become reality at ever greater speed, as innovative scientific discoveries are rapidly being translated into medicines that have the potential to Read More – Source