RealNews

BioShield shortcomings subject of industry conference

Despite the approval of $5.6 billion in federal funding for vaccines and treatments to fend off or respond to a bioterror attack, and efforts to streamline the approval process for those drugs, many companies are reluctant to enter the market, biotech industry executives and observers say. Liability, manufacturing concerns and uncertainty about how the money will be allocated are among the reasons for the reluctance, despite the passage of the BioShield funding bill by the U.S. House and Senate. Those concerns are the subject of a conference Wednesday hosted by the University of Maryland School of Law. VaxGen President Lance K. Gordon said his company has been able to purchase limited product liability insurance, but given the size of the stockpiles the federal government is considering creating, liability will most likely exceed what the commercial insurance market can provide. Full Story

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