Chinese, British firms to jointly develop new drugs in coming decade
Chinese and British pharmaceutical companies are planning to jointly develop 30 new drugs in the coming decade, according to a partnership proposal signed Friday.
The announcement was made by David Wilkinson, who represents Britain's National Institute for Medical Research, at the China Bioindustry Convention 2011 (BioChina) in the southern boom city of Shenzhen. Pandora Charms for bracelets
Wilkinson said he was confident of this "ambitious plan," following Friday's signing of the proposal for a China-UK Partnership in healthcare.
The two sides will integrate their different advantages in the biopharmaceutical industry, he said.
The proposal, backed by both governments, is estimated to involve nearly 1 billion yuan (154 million U.S. dollars) of investment. About 12 million Euro, equivalent to about 17.13 million U.S. dollars, will come from the British side.
While most of the research and development work will be done in Europe, Wilkinson said he would increase the number of staff working at China-based labs to 80 this year. Pandora Earrings
Sino-British cooperation will last from the discovery and development of new drugs through their clinical use and approval for sale in the global market, he said.
Wilkinson said China is appealing to many Western firms as it is likely to evolve into the world's second largest pharmaceutical market around 2015.
Many Western firms are also impressed with the Chinese government's injection of 960 million U.S. dollars into the biopharmaceutical sector from 2008 to 2010 to boost research and innovation. Pandora Earrings Silver
Chinese and British pharmaceutical companies are planning to jointly develop 30 new drugs in the coming decade, according to a partnership proposal signed Friday.
The announcement was made by David Wilkinson, who represents Britain's National Institute for Medical Research, at the China Bioindustry Convention 2011 (BioChina) in the southern boom city of Shenzhen.
Wilkinson said he was confident of this "ambitious plan," following Friday's signing of the proposal for a China-UK Partnership in healthcare.
The two sides will integrate their different advantages in the biopharmaceutical industry, he said. Pandora Charms Online
The proposal, backed by both governments, is estimated to involve nearly 1 billion yuan (154 million U.S. dollars) of investment. About 12 million Euro, equivalent to about 17.13 million U.S. dollars, will come from the British side.
While most of the research and development work will be done in Europe, Wilkinson said he would increase the number of staff working at China-based labs to 80 this year.
Sino-British cooperation will last from the discovery and development of new drugs through their clinical use and approval for sale in the global market, he said.
Wilkinson said China is appealing to many Western firms as it is likely to evolve into the world's second largest pharmaceutical market around 2015.
Many Western firms are also impressed with the Chinese government's injection of 960 million U.S. dollars into the biopharmaceutical sector from 2008 to 2010 to boost research and innovation. Pandora Necklace
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