IT WAS once only drug firms that developed drugs. But this is changing. Take the case of the Michael J. Fox Foundation, a Parkinson’s disease charity. On April 19th it announced that it would pay for a clinical trial of a drug developed by Sanofi, a French pharmaceutical giant, that might treat the mental symptoms of the disease.
The deal is the latest sign of a broader shift—one that is driven by desperation. Patents on blockbuster drugs are expiring. Research and development (R&D) have grown less productive, with billions of dollars yielding only a trickle of drugs.