Bayer plans 100m euro investment

Bayer Schering Pharma is to invest up to 100 million euros over the next five years to set up a research and development (R&D) center in Beijing in a bid to cash in on the country's multi-billion yuan health reform plan.

The Beijing center will be the fourth in the world for the pharmaceutical division of the German drug and chemical group Bayer. The others are in Germany and the US.

It will develop new drugs tailored to Asian patients and plans to conduct research in partnership with Tsinghua University, the company said.