Bloomberg News

China to Invest 40 Billion Yuan in New Drugs, Xinhua Says

October 14, 2011

Oct. 15 (Bloomberg) -- China will invest 40 billion yuan ($627 million) developing new medicine over the next five years, the state-owned Xinhua News Agency reported today.

Total revenue in the drug-making industry will rise 20 percent annually to 3.1 trillion yuan by 2015, Xinhua said.

--Editor: Nicholas Wadhams

To contact the reporter on this story: Tian Ying in Beijing at ytian@bloomberg.net

To contact the editor responsible for this story: Paul Tighe at ptighe@bloomberg.net


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