LA JOLLA, Calif.--The Scripps Research Institute today announced it has entered into a five year research collaboration with Pfizer Global Research and Development to advance scientific knowledge of uncured diseases and novel ways to treat them, making full use of emerging technologies and resident talent from both organizations. Under the terms of the agreement, Pfizer will pay Scripps Research $100 million over a five year period, during which scientists from Pfizer and the Institute will work together to identify and perform specific projects of mutual interest.
PFE closed friday's trading at 27.86 or up 37 cents per share.
Scripps is a private research institute here in La Jolla, CA. There are a lot of great minds there.
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