Shanghai Fosun boosts R&D budget for innovation

Shanghai Fosun Pharmaceutical Group Co. Ltd. (Shanghai:600196; HKSE:2196) expects to spend more than RMB5 billion ($803.5 milllion) on R&D over a five-year period spanning 2016-20.

Fosun said it spent RMB1.5 billion ($238.2 million) on R&D from 2011 through 1H14. ...