Pharmaceutical companies upped R&D investment in 2012

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Pharmaceutical companies upped R&D investment in 2012

Multinational pharmaceutical companies increased the number of their research and development (R&D) projects to 1,430 in 2012, up 6.4 percent from a year earlier, according to a survey released yesterday by the Korean Research-based Pharmaceutical Industry Association of 27 foreign members operating in Korea.

However, 283 projects were new, indicating they are making fewer investments than in 2011, when they embarked on 351 new projects.

Of the projects, 27.7 percent were technology-intensive that required experienced clinical researchers. That percentage grew from 19.3 percent in 2009.

While foreign companies’ R&D efforts in Korea were expanding, they also created more jobs, hiring a total of 925 researchers, up 19 percent from 779 three years ago.

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