Big Bucks for Biotechs: Feds Invest $2 Billion for Facility Construction and Drug Discovery

SUGAR LAND--May 25, 2010--Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--May is proving to be a banner month for the biomedical industry and the feds. Within all of the myriad federal aid programs streaming out of the Obama administration, there are two items of particular interest to the industry. U.S. Health and Human Services (HHS) Secretary Kathleen Sebelius has made formal announcements of the two programs, offering a total of $2 billion to spur facility construction and drug development. The announcements underscore the truth about the Pharmaceutical-Biotech Industry as discussed at the recent Industrial Info 2010 Industrial Outlook in Atlanta: acronyms mean money, especially in the case of the federal government.