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Business

R&D spending up 4% in Germany

by Alex Scott
November 21, 2016 | APPEARED IN VOLUME 94, ISSUE 46

R &D spending by Germany’s chemical and pharmaceutical industries is rising by about 4% per year and totals more than $11 billion annually, according to new data released by the German chemical industry organization VCI. That spending is equivalent to more than 5% of sales, the organization says. The number of chemical and drug company staffers working in R&D in Germany increased by about 3% in the past decade to a total of 42,000, VCI says. But the organization warns against complacency, noting that China’s share of global chemical research will hit 15% in 2030, up from less than 2% in 2000.

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