Sanofi-Aventis to invest 70 bln won in Korea

SEOUL, June 16 (Yonhap) -- Sanofi-Aventis, the world's fourth-largest
pharmaceutical company, will invest 70 billion won (US$ 55.4 million) in research
and development (R&D) in South Korea over the next five years, Seoul officials
said Tuesday.

The envisioned investment was agreed upon by South Korea's health minister Jeon
Jae-hee and Sanofi-Aventis' visiting vice chairman in charge of R&D, Marc Cluzel,
according to the Ministry for Health, Welfare and Family Affairs.
The Paris-based Sanofi will spend the money in supporting local hospitals'
clinical tests, seeking joint projects to develop new drugs and helping nurture
the nation's bio industry, it added. The investment will be completed by 2013.
The ministry expects the investment will contribute to nurturing talented
researchers here and enhancing the overall infrastructure of the nation's
pharmaceutical and bio industries.
Sanofi, the leading health care company in Europe, invests more than 16 percent
of its annual sales in research and development projects. Last year, its R&D
investments amounted to 4.6 billion euro (8 trillion won).
kokobj@yna.co.kr
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