Chinese Investment to Boost British Pharma Industry

Medical Research Care Technology is in negotiations with Chinese authorities to save up to 850 pharmaceutical jobs within the UK, the Financial Times reports.

David Tapolczay, the head of MRC Technology has said that “this is probably the most significant thing to come along in research and development in the UK for 25 years”. The negotiations centre around the hiring of specialists being made redundant from Pfizer plant in Sandwich – reported on here – which will lose up to two thousand jobs.

Under the proposed agreement, a UK based clinical research team would begin testing and developing new medicines. The project is designed to keep specialists within the UK whilst also helping to expand China’s growing pharmaceutical industry.

Added to the Chinese government’s investment will be that of British private investors and a guarantee from Chinese businesses to sell the drugs developed.

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Posted in: Industry News, News
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