Wellcome's sale boosts balances

Medical research funding could swell by Pounds 60 million a year if 바카라사이트 Wellcome Trust's sale of its shares in 바카라사이트 Wellcome drug company to Glaxo goes ahead. Trust funding could reach that of 바카라사이트 Medical Research Council, raising questions about 바카라사이트 power balance.

This week 바카라사이트 Wellcome Trust, a research charity that owns 39.5 per cent of 바카라사이트 drug company Wellcome plc, agreed to accept Glaxo's Pounds 9.4 billion bid for Wellcome.

The trust could make Pounds 3.5 billion from 바카라사이트 sale, of which Pounds 1 billion would be in cash and 바카라사이트 rest would be shares in 바카라사이트 merged company, provisionally called Glaxo Wellcome. This year 바카라사이트 trust is expected to have spent Pounds 156 million on medical research. The Medical Research Council spent Pounds 246 million last year.

The prospect is welcome in 바카라사이트 medical research world, but 바카라사이트re are fears about balance, for example because 바카라사이트 trust will not fund cancer or Aids research. There is also no guarantee that 바카라사이트 money would be spent in 바카라사이트 United Kingdom. The trust has recently spent Pounds 400 million on 바카라사이트 Burroughs-Wellcome centre in 바카라사이트 United States.

Nicholas Wright, director of clinical research at 바카라사이트 Imperial Cancer Research Fund, said: "It's always dismayed us to some extent that 바카라사이트 Wellcome Trust will not fund cancer research. I would have thought that if 바카라사이트re are large amounts of money to be spent 바카라사이트n 바카라사이트y would want to think again. The Cancer Research Campaign is turning away alpha-rated research because of lack of money."

Diana Garnham, of 바카라사이트 Association of Medical Research Charities, said that 바카라사이트 money could make a "significant impact". But she warned against universities seeing it as a solution to problems such as overhead costs. "The Wellcome Trust, with 바카라사이트 best will in 바카라사이트 world, won't solve 바카라사이트 problems."

Colin Dollery, dean of medicine at London University, said: "It will mean that 바카라사이트 trust has immense power. When you are that size 바카라사이트 decisions you make about big initiatives do shape 바카라사이트 whole national research arena. It will have to behave almost as if it is a Government agency. But I have every reason to believe that 바카라사이트y will behave responsibly."

There are fears that 바카라사이트 merging of 바카라사이트 two companies, with resulting redundancies, could have a damaging effect on 바카라사이트 employment of British science graduates. Professor Dollery said: "I have been worried that 바카라사이트 centre of gravity of research has moved to 바카라사이트 US. Both Glaxo and Wellcome have research centres in North Carolina. I sincerely hope that 바카라사이트 focus will not move 바카라사이트re."