Global financial crisis could hurt biotech research investment, ESRC Prof warns

10 November 2008

The stark warning from a major international conference is that the global financial crisis could seriously delay the discovery and production of many new life-saving medicines. Investment into research for novel drugs - which globally runs into the billions - is now seriously at threat as former shareholders in pharmaceutical companies shy away as a result of the economic meltdown.

David Wield, Director of the Economic and Social Research Council's Edinburgh, Scotland-based Innogen Centre, and chairman of the Genomics and Society: Reinventing Life? conference, delivered this message to the gathering of over 200 experts in London, UK.

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