Smith & Nephew Inc. to Increase R&D Budget by $300 Million

The FTSE 100 medical devices manufacturer has said it will increase its research and development budget by $300m (£186m) over the next five years and plans to set aside 20pc of this for emerging markets. The investment comes as Smith & Nephew sharpens its focus on countries such as Brazil, Russia, China and India, with a view to raising sales from these markets to $500m in 2016 from around $170m currently. Olivier Bohuon, who joined Smith & Nephew as chief executive in April, has made growth in these countries one of his five strategic priorities for the company.

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