Bayer, a leading healthcare product manufacturer, said today it will invest up to 100 million euros ($129.22 million) in the coming five years to establish a research and development (R&D) center in Beijing, the company's first in Asia.
The proposed Beijing center, Bayer's fourth worldwide, will concentrate on developing new drugs with properties that are particular suitable for treating Asian patients. The company said it plans to conduct some research and development work at the Beijing center in partnership with Tsinghua University.
Bayer has two R&D centers in Germany and one in the United States.
Bayer's sales in China, its third largest market, ranks at the top among international health care companies.
(China Daily February 12, 2009)