Samaritan devotes part of $40M financing to R&D

Las Vegas, USA-based drug developer Samaritan Pharmaceuticals says it is devoting a substantial amount of its recent $40.0 million dollar financing to R&D.

The firm quotes BioCentury, Strategy-The Inside Story as saying: "there is really only one thing that sustainable companies must do: make sure the pipeline is full of products that will come on the market at reasonable intervals and provide reasonable levels of revenue. Given the reality of pharmaceutical failure rates, the characteristics of successful business builders are thus fairly straightforward: they spend enough on R&D and do enough partnering and acquisitions to keep the compounds flowing."

Janet Greeson, chief executive of Samaritan, stated: "although it is not in our strategy to partner yet, we feel particularly exuberant about the strength of our pipeline to keep the compounds flowing and its possibilities for success. Not only that, we are purposely positioning each one of our promising drugs now to be continuous revenue streams, even before our initial HIV drug SP-01A hopefully comes on the market."