R&D spending going gangbusters in China

Everything drug related is going gangbusters in China. Last year, China grabbed $2.2 billion of the global action on drug R&D. By 2010, the country expects that to grow to $10 billion, two percent of the planet's total R&D budget. Time dissects the numbers for us, listing AstraZeneca, Novartis, Eli Lilly and GlaxoSmithKline among the leaders in the pharma world who are blueprinting some ambitious expansion plans. It's clear to see what's attracting the drug giants: Lower research costs, expert scientific help and a massive population suffering from the kind of big ailments that can spawn blockbuster therapies. It's also a growing market in its own right. China bought $13.6 billion in pharmaceuticals last year--and that's expected to double by 2010. Natch.

- check out the article from Time