China Unveils ¥63b Plan for Drug Research

The Chinese government on Wednesday announced budgets of ¥32.8 billion and ¥30 billion in pharmaceutical R&D for 2009 and 2010. Drugs against HIV/AIDS and hepatitis viruses are placed high on the agenda of the plan. The grants are on top of the previously promised ¥850 billion expenditure on the mainland's healthcare industry.

$1 = ¥6.8