Issue Date: February 16, 2009
Bayer Invests In China R&D Center
Bayer Schering Pharma will invest nearly $130 million in a new R&D center in Beijing over the next five years. "We are continuously increasing our presence in the Asia-Pacific region, where China is our key growth driver," company Chairman Andreas Fibig says. "In our new R&D center in Beijing, we will establish a world-class R&D team, extending our global R&D expertise and capabilities." China is the third-largest market worldwide for Bayer, and it will become the third country, after Germany and the U.S., to host a global R&D center for Bayer's pharma operations. Bayer also is in advanced discussions with Tsinghua University to establish a partnership focused on discovery of new disease targets.
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