Pharma industry-govt pact for Spain
The Spanish pharmaceutical industry has concluded an agreement with the Ministry of Health to "help Spain surmount the economic crisis," with a new and more competitive and innovative model of operation.
The key aims of the accord are to maintain employment and increase investment in medicines research in the country. Jesus Acebillo, president of the drug industry body, Farmaindustria, said investment in R&D would increase to some 3.6 billion euros ($4.88 billion) in the period to 2011 with the goal of accounting for about 20% of total industrial R&D investment in Spain.
Mr Acebillo added that, broadly speaking, drug R&D spending would rise by about 15% annually between this year and 2011.
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