GlaxoSmithKline and Pfizer choose to collaborate on HIV drugs
Here is an excellent highly relevant article on cooperative behaviour between oligopolistic giants. Two of the world’s biggest drugs companies GlaxoSmithKline and Pfizer have announced a plan to merge their HIV treatments in a joint venture. ViiV Healthcare is an attempt for both companies to limit the risks of costly races to find new profitable treatments for HIV/aids and give them an opportunity to counter the loss of the revenues as these companies lose patent protection and are open to competition from generic drug makers. It is a strong reminder of the very high fixed costs of research into new drugs; the long lead times between new drug development, testing and finally getting it to the market. And also the impact of the entry of generic drugs into markets once patent protection runs out. The new company has a 19% share of the global drugs market, in comparison to the Californian company Gilead’s 31%.
Drug firms’ collaboration pools HIV treatments (Independent)
IPO of HIV business is ‘up to shareholders’ (Telegraph)
Google Wave - Next Steps on Collaborative Learning?
Rory Cellan-Jones reports from Google HQ in London on the development of Google Wave - a tool “that really needs s network effect for it to take-off.” Google Wave combines email and instant messages, enabling several users to edit documents in real time online. Google markets Wave as a combination between conversation and a document where people can discuss and work together using richly formatted text, photos, videos, maps, and more. What e-learning possibilities are there here for economics students and teachers?
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