U.S. Department of Health partnering with Johnson & Johnson company in R&D initiative to prevent pandemics.
The U.S. Department of Health and Human Services has announced they will enter a public-private partnership with Janssen Research and Development, a company owned by well-known corporate giant Johnson & Johnson. The purpose of the partnership is to perform R&D of products that could aid in treatment and prevention of emerging infectious diseases, some with the potential to cause a pandemic.
According to Johnson & Johnson, the scale of this research is too high for any company or government to achieve on its on, but by bringing together the efforts of the private and public sector, the partners believe achievements can be made. Combined skills and resources can be used to advance their research and aim to develop treatments for influenza and prevention methods should a pandemic arise.
Influenza affects more than one billion individuals each year with up to 500,000 deaths. The partnership will continue research on a drug developed by Janssen, which could prevent the influenza virus from replicating and spreading in the body. Also included in the project will be research on vaccines to protect against a wide range of seasonal and pandemic viruses.
The Department of Health and Human Services will provide the project with up to $43 million for R&D in the first year and up to $273 million over five years. Janssen has agreed they will match the Department’s contribution and both parties will jointly manage operations and resources and share costs associated with this R&D project.
R&D investment in the medical and health industry has been growing in recent years and is expected to continue growing as investments advance. R&D Tax Credits can support businesses in any industry in furthering their research and development initiatives. If you would like to find out how your business could benefit from R&D tax credits, contact a Swanson Reed R&D Tax Advisor today.
