Google is looking to expand itself into a new and unexpected market. In an effort to diversify, the company has decided to become part of the pharmaceutical and health sciences field. How do they plan to do this? In the beginning of this past September, Google’s life sciences company, Calico, announced it’s plan to form a potential $1.5 billion partnership with AbbVie Inc., a drug production company. Calico and AbbVie have both pledged to provide $250 million to propel this enterprise into its next steps. The two companies intend to build a research and development center in the San Francisco Bay area. The expert researchers at this facility will focus primarily on treatments for age-related diseases.
Google has been highly secretive about Calico since it launched last year; however, they are now explaining the company’s long-range goals in depth. Many are asking why the young company has decided to partner up with AbbVie. The answer is that AbbVie is a corporation focused on delivering developed drugs to the consumers. The company will assist Calico in conducting research and testing of drugs while simultaneously marketing the drugs that pass testing.
Calico and AbbVie are determined that its investment will help detect and combat illnesses such as cancer. The other age-related diseases they are focusing their research and development on include Alzheimer’s and Parkinson’s. Other pharmaceutical companies have attempted to create treatments for such age-related diseases; however, all prospective treatments have failed the final stages of clinical trials. All of these treatments have attempted to provide a drug designed to halt or reverse such the degenerative sicknesses.
Google has decided to play a role in this business development in order to branch outside of its Internet roots in attempts to gain recognition in other fields. The company’s signature is its unprecedented and highly utilized search-engine website that was created in September 1998. Over the past few years, Google has been searching for new methods of expanding their presence into other markets. Calico’s partnership with AbbVie is another step in Google’s attempt to become a multi-faceted, powerhouse corporation.