US pharma treating nanotech as an ivory tower

US pharma giants are spending almost no money in nanotech though it has been shown to lead to better drug delivery.

US pharmaceutical giants are investing almost no money and talent in nanotechnology though it has been shown to lead to better drug delivery, reports UPI.

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"The impact of nanotechnology on pharmaceuticals is not 10 years from now — it's two or three," said Matthew Nordan, vice president of research at Lux Research, a nanotech analysis firm in New York City.

"Pharma is treating nanotech as an ivory tower, but the rubber needs to meet the road."

"If this trend continues," Nordan said, "nanotech will play out in pharmaceuticals just as biotechnology did, with major pharmaceutical companies leaving money on the table and allowing new competitors to take root."

Yet nanotech presents many near-term opportunities to the big pharmaceutical companies, Nordan said.

As proven by Abraxane, the recently approved pharmaceutical from American Pharmaceutical Partners in Schaumburg, Illinois, nanotech can lead to better drug delivery.

Abraxane is made of nano-particles containing the tumour-fighting drug paclitaxel bound to albumin protein.

Abraxane can be taken without the toxic solvents normally used with paclitaxel, which means more of the drug can be taken with fewer side effects.