Bayer to establish R&D facility in Beijing
Germany-based Bayer Schering Pharma is to establish an R&D facility in Beijing, China. The firm plans to invest 100.0 million euros ($130.7 million) over the next five years. As part of the development, Bayer will enter into a strategic partnership with the Chinese Tsinghua University to pursue research collaborations in the firm's core therapeutic areas. According to IMS Health data, Bayer is the number one health care company in China, with a 43% regional growth rate in 2007.
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