Biomedical
Research Moves East
LIKE many other things, biomedical research is moving east. A
paper published in the New England Journal of Medicine by a team led
by Justin Chakma of Thomas, McNerney & Partners, an American
venture-capital firm, shows a marked shift in spending from Europe and North
America to Asia. In China, where the most recent five-year plan has made such
research a priority, the amount disbursed increased, in real terms, by an average
of 33% a year between 2007 and 2012. In Japan it was up by an average of 6%
each year. In the United States it fell by 2% a year. As a consequence,
America’s share of the total shrank from 51% in 2007 to 45% in 2012.
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