China pushes drug development as R&D soars

China has already made tremendous inroads as a manufacturing center for the world. But now it's making enormous investments in R&D to propel the country into the top ranks of world innovators. China has already passed Japan for R&D spending, notes an article by the BBC. And it's turning to companies like Sinovac to develop new drugs. Sinovac is pushing a new bird flu therapy. China's R&D budget is growing at a rate of 20 percent a year, making it likely that a lot more Sinovacs will be created in the years ahead.

- check out the BBC report on China's R&D strategy