GlaxoSmithKline (GSK) says it will create a new research center in Shanghai, China this year backed by an initial $40 million investment, and it intends the center to grow into a worldwide powerhouse. GSK plans to recruit 50 to 100 top international scientists to the center, and in 10 years GSK plans to have the Shanghai center staffed with 1,000 research scientists. The center will focus on neurodegenerative disorders like Parkinson's, Alzheimer's, and multiple sclerosis. GSK chose Shanghai over a location in India or South Korea because Shanghai is a hub for foreign drug makers, because the city will be attractive to international research scientists, and because it has many prestigious universities and hospitals. The company is still looking for a specific location. In the last 12 months, both Novartis and Eli Lilly announced $100 million investments in creating research centers in China. (Click here for more
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