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Multiple Sclerosis

Scripps Research struggling with deficit but eyeing potential royalties

The Scripps Research Institute in La Jolla continues to operate at a deficit. But Fitch Ratings says the center is financially stable. And relief may be on the way; the institute could earn large royalties if an experimental drug that it helped to develop makes it to the marketplace. The institute's financial troubles surfaced last summer when it was disclosed that the University of Southern California was quietly trying to buy or merge with Scripps Research, one of the world's foremost biomedical research centers. The deal fell apart after faculty members revolted, saying they didn't want to surrender control of the nonprofit institute to USC. At the time, Scripps...

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