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Bayer to Invest 100 mln Euros in Beijing
[2009-02-16 11:01:54]
German drug and chemical group Bayer Schering Phama has planned a 100 million euro investment in the next five years to set up a research and development center in Beijing, China Daily reported in Beijng on Saturday.
The Beijing center will be the company's first pharmaceutical division in China. Bayer has three such centers in Germany and the U.S.
Upon completion, the center will specialize in developing new drugs tailored to Asian patients. Partnership with China's reputed Tsinghua University in medical research has also been in consideration, according to Bayer.
Andreas Fibig, chairman of the board of management of Bayer HealthCare, said a recent governmental medical reform plan has boosted the company's confidence in Chinese market.
On Jan. 21, the State Council, or the cabinet, announced a plan to invest 850 billion yuan in the nation's health care industry over the next two years.
"The plan provides opportunities to expand business in China. That is why we are still interested in investing in China in such a turbulent time of the global economy," said Fibig.
Industrial experts estimated the governmental investment would help keep the medical sector's annual growth at 20 to 30 percent.
Source:Xinhua
The Beijing center will be the company's first pharmaceutical division in China. Bayer has three such centers in Germany and the U.S.
Upon completion, the center will specialize in developing new drugs tailored to Asian patients. Partnership with China's reputed Tsinghua University in medical research has also been in consideration, according to Bayer.
Andreas Fibig, chairman of the board of management of Bayer HealthCare, said a recent governmental medical reform plan has boosted the company's confidence in Chinese market.
On Jan. 21, the State Council, or the cabinet, announced a plan to invest 850 billion yuan in the nation's health care industry over the next two years.
"The plan provides opportunities to expand business in China. That is why we are still interested in investing in China in such a turbulent time of the global economy," said Fibig.
Industrial experts estimated the governmental investment would help keep the medical sector's annual growth at 20 to 30 percent.
Source:Xinhua
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