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Florida: Investing Heavily in Biotechnology - Governor uses state funds to attract large biotech companies

Editors Note: Mike Rosen visited Florida in mid-October. Late in the month, Florida Governor Jeb Bush was able to convince the Florida legislature after closed-door negotiations to create and pass a bill creating a $369 Million fund to attract and build an East Coast Location for the Scripts Research Institute to focus on biotechnology research and development. Besides the size of the d......

Full article >>> is that the university has already raised $552 million of the money including $33 million from Phil Frost, a trustee of the university and the chairman and CEO of IVAX.

IVAX is one of the largest generic companies in the U.S. If youve read my past columns, youll note I said that generic pharmaceutical companies can be very profitable. Frost is also a doctor who originally came to Miami t......

Full article >>> ancer Institute is the Paralysis Center, which is also receiving heavy funding for its research efforts to help paralyzed patients walk again. The University of Miamis School of Medicine is also known for its research and development in diabetes and eye care.

That same day, I picked up the Miami Herald and read about how the Scripps Institute in La Jolla, Calif. is looking to establish a......

Full article >>> mi does also have some pharmaceutical activity with generic companies like IVAX and Andrx, it generally hasnt been a significant factor in biotech development.
Still, with the Scripps investment in Florida (with state support) and the University of Miamis investment in upgrading its medical care and research efforts in medicine, this may well be the catalyst for an emerging biotech sector in ......

Full article >>>
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Source:wistechnology.com By Mike Rosen 11/02/03


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