Companies / South Korea
VGX Plans Large R&D Investment
July 2007 | FDI AlertFollowing in the footsteps of Pfizer, US drug development company VGX Pharmaceutical has forged a tentative deal to invest US$200mn in establishing its full-scale Asian headquarters in South Korea. VGX will conduct research into new treatments for HIV and hepatitis B at the site, as well coordinating regional activities. Tellingly, the news was announced by the South Korean government and is not being explicitly publicized by the firm. Nevertheless, BMI is encouraged by the development, especially as South Korea was recently over looked by UK-based GlaxoSmithKline for research investment in favour of nearby
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