Rob Cyran and Reynolds Holding discuss how partnering with biotech and pharmaceutical companies may help the internet giant recover from its stumbles in the health industry.
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Google seems to have its fingers in all sorts of businesses these days and one of the big ones is health care but the Internet giant is finding that pharmaceuticals Biotech. Can be a lot more complicated than Internet search robs parents. House accompanied dealing with this sort of humbling realization but let's back up because I don't know what -- Google is the first off they're fine I mean a couple of years ago because they -- -- advertising for -- pharmacies can do that it's against the law cane farms were advertising on Google to American customers who Iranians. Traditional pharmaceuticals Hewitt -- can't do that and then the other thing is last year. The company which was backed by Google and Sergey Britain's. Separated wife runs. The FDA said they were they were selling genetic test -- -- -- that you can't yeah you just you simply haven't -- approval -- you're not -- claims in groups so on the they've made them stop advertising right so Google like they've sent the case that we were having problems in these industries to create industries that they're just really hard we don't know -- a lot of regulation a lot of legal requirements a lot of safety issues and it just wasn't experience exactly and that they haven't really back to witness instead that they decided to use to seek -- partners pharma companies as you know -- -- -- -- -- So at this summer for instance. -- developing it contact plans to test glucose for diabetic abuse and having -- stick your blood -- -- contact. What they've done is they've gone to Novartis to big contact -- -- that hate. Is -- technology laden unit that's actually probably good idea again is contact lenses. -- they can be tricky for diabetics is that it had problems arise right and then in -- school does know. Approval right exactly the risks and benefits and then and what they did yesterday actually is. They've set up a company called calico they've taken what it did. Former -- of Genentech. It's -- in the company to deal with aging related disease basically you know heart disease and nearly all sorts of things which are incredibly complicated. Great that they're researching it yeah you know what they do when they have to have -- -- for the FDA that's going to be really tricky trying to get trustees so it calculated. Is that the company sponsored by Google. Yeah is they've decided to work with another big pharma comical at the -- gonna help and if it. And the drugs didn't help me go before the FDA they're gonna run late stage trials commercialize it. So the guts to stick to what it does best. That your cat venture capital in and sponsoring innovation and IT. And then delay in the pharma companies double -- and and we do think it's a good thing that Google is involved and health care I mean that's a really bring something something to the table a lot of money it may. You know companies have mixed record in in doing this sort of research. Google does. A lot of couple things they've got a lot of money they've also got a willingness to inability to use. Big -- data which is becoming increasingly important health you know they can look at these things and find relationships you can't see. And they also got -- it -- kind of willingness to break things which which can be useful especially health care Sundays -- very conservative. If he can marry the kind of willingness to break something with companies you know of my life and company and had to get into this position of sort of sort of you know. Bullock China shops are going so we can do we can do everything. I got into health care and that's that's just -- it does sound. Thanks for that rob will be watching that story as well as others in the mean time stay tuned for more breaking -- tomorrow.
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