ARTICLE | Strategy

New Scripps-Sandoz deal near

April 11, 1994 7:00 AM UTC

WASHINGTON-- The Scripps Research Institute and Sandoz Pharmaceuticals Corp. are near completion of a revised research agreement that will be valued at about $200 million and will be in force for five years with the option to extend it an additional five years, according to Scripps.

The new deal sheds $100 million and a number of provisions that had raised objections last year from the NIH and Congress. NIH had threatened to cut off about $70 million in annual funding to Scripps if the original agreement was implemented. Rep. Ron Wyden, D-Ore., has introduced legislation amending federal technology transfer regulations in an effort to prevent large-scale long-term cooperative research agreements between publicly funded institutes and private industry. ...