Prognosis
Blackstone Bets on Costly Drug Trials That Vex Even Big Pharma
The private equity behemoth thinks its deep pockets can help drugmakers get new therapies to market.
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Blackstone Group LP is betting that it can use its considerable financial muscle to succeed where even the biggest drugmakers need help: getting promising medications over the finish line.
Last year, the private equity giant snapped up Clarus, an investment firm that specializes in funding research for experimental medicines that were otherwise stranded when their original developers braked their studies in the face of daunting economics. The business now operates as Blackstone Life Sciences.