WuXi taps external innovation through $50M venture fund
This article was originally published in Scrip
Executive Summary
A number of Chinese pharma companies are beginning to increase their investments in original drug R&D, against the wider government-backed push to support drug innovation in the country. Contract development services provider WuXi PharmaTech, which has formed a $50 million corporate venture fund to foster external research, is the latest to increase its focus on innovation.
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