Geneva (AFP) Nov 3, 2009
Swiss pharmaceutical group Novartis said Tuesday that it would invest 1.0 billion dollars (680 million euros) in research and development in China to latch on to growing demand for health care.
The five-year investment will include an expansion of the company's Institute for BioMedical Research in Shanghai (CNIBR) which specialises in basic research and developing new drugs, Novartis said in a statement.
"We are confident that our expanded investment in R&D will result in innovative therapies for patients in China and other countries nurtured by the growing scientific excellence in China," said chief executive Daniel Vasella.
The institute is to become the third largest research facility for the group after centres at its headquarters in the Swiss city of Basel and in the United States, employing about 1,000 researchers instead of the current 160.
Another 250 million dollars will go to a new global technical centre which is opening in Changshu.
Novartis said the demand for health care in China was growing rapidly, as the population suffered from a greater burden of chronic diseases associated with lifestyle choices.
The Chinese government has announced a 124-billion-dollar plan to expand access to affordable health care over the next three years, it added.
Share This Article With Planet Earth
Hospital and Medical News at InternDaily.com
General Electric unveils pocket-sized ultrasound tool
San Francisco (AFP) Oct 21, 2009
General Electric (GE) on Tuesday unveiled an ultrasound device about the size of an iPhone, saying the gadget could become "the stethoscope of the 21st century." "We are going to put this in the clinicians' hands," GE chief executive Jeffrey Immelt said after pulling a Vscan from a suit jacket pocket during an on-stage talk at a Web 2.0 Summit in San Francisco. "This really could be the ... read more
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement|