Demonstrating the growing importance of China in the drug development field, Merck KGaA has inked a deal that gives the German drug company access to Chi-Med's large Shangha research center as well as its library of botanical compounds. No details were released, but Chi-Med gains an upfront payment and milestones on any new drugs they develop.
For Merck, it's a chance to gain a lead in the push to develop new compounds from traditional Chinese medicines. Novartis, Pfizer, AstraZeneca and Roche have all announced plans to set up significant research projects in China. These drug companies are also looking for the inside track on a growing pharma market. The Chinese market for drugs is expected to jump to $25 billion by 2010.
- read the report on the alliance from The Guardian
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