Google's corporate reach extends beyond the technology industry, both through acquisitions of smaller start-ups and the establishment of new subsidiaries. Today, Google announced Calico--a new company focused on research and development in healthcare and biotechnology.
Arthur Levinson, currently the chairman of Apple and biotech corp Genentech, will take over Calico as CEO. Google chief Larry Page sees Levinson as a natural pick for leading Calico's development.
"Illness and aging affect all our families. With some longer term, moonshot thinking around healthcare and biotechnology, I believe we can improve millions of lives," said Page. "It’s impossible to imagine anyone better than Art--one of the leading scientists, entrepreneurs, and CEOs of our generation--to take this new venture forward.”
Levinson will retain his position as chairman of both Apple and Genetech. Earlier this year, Genentech won FDA approval for its latest cancer treatment drug, Kadcyla, which costs around $9,800 a month. The drug is expected to eventually replace Genentech's other cancer treatment, Herceptin, which had global sales of $6.3 billion in 2012.
Source : ign[dot]com