Spanish drug firm team-up for nanotech

Five leading Spanish drug companies have announced the formation of a consortium to use nanotechnology to res-earch new drugs. Zeltia and Faes Farma are joined by Rovi, Lipotec and Dendrico.

The accord was struck in part because of new government aid to fund drug research partnerships, especially in areas that the Spanish authorities believe can benefit the econ-omy as a whole. The move comes amid repeated industry requests in Spain that the government should increase research spending in order to boost the local biotechnology industry's competitiveness within Europe.

"Adding value to the Spanish economy"