Shanghai Fosun Pharma announced an $800 million budget for R&D during the 13th Five-Year Plan (2016-2020), double its expenditure during the current five-year period. The largest investment will be a $240 million commitment for biosimilar drugs, centered on Shanghai Henlius Biotech Co., a subsidiary. Henlius will create a biopharma research center and build a GMP production facility for monoclonal antibodies. As a company, Fosun has long been an active M&A player, but the news makes clear the company is also increasing to internal development.
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