The disappointing returns on biopharmaceutical research and development, despite the availability of advanced molecular technologies and the investment of billions of dollars, is forcing companies to a re-evaluate their business plans. One idea that appears to be coming back into vogue again is the strategy of giving older drugs a makeover. Reformulating and repurposing older drugs for new uses or improved versions is more attractive than developing a drug from scratch.
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After selling off its commercial and cardiovascular operating segments and spinning the remaining R&D operations into Facet Biotech Corp., PDL BioPharma Inc. became dependent on royalties from humanized antibody products covered under licenses of its Queen et al. patents. Read More