Pfizer, AstraZeneca team up for R&D nonprofit

Big Pharma seems to be feeling the spirit of collaboration of late, and Pfizer ($PFE) and AstraZeneca ($AZN) have joined forces to launch the Néomed Institute, a nonprofit drug R&D outfit that will unite CROs, schools, biotechs and VCs to develop and commercialize new therapies. The Montreal undertaking will be funded with $100 million in contributions from the companies and the Canadian government. Report