January 16, 2008 -- According to unofficial reports, the State Government of China will spend a huge 4 billion RMB ($548 million) over the next five years to stimulate development of innovative drugs in China. Another 7 billion RMB ($966 million) will be allocated in the following 10 years. These funds are in addition to existing programs. The State Council, China’s cabinet, is said to have approved the initiative on December 28, 2007, but as yet, it has not made a formal announcement of the program. More details...
