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S. Korea To Invest $4.5 Billion In Two Medical R&D Centers

This article was originally published in PharmAsia News

Executive Summary

The South Korean government plans to invest more than $4.5 billion in a pair of industrial clusters dedicated to medical research for innovative drugs, medical devices and clinical trials. The government goal is to have the two medical hubs constructed by 2012 and capable of developing 16 types of drugs and 18 types of devices over 30 years. The Ministry for Health, Welfare and Family Affairs said the investment would pay for itself by creating centers that would generate more than $66 billion worth of medical services, spin-offs and jobs. (Click here for more
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