The German chemical and pharmaceutical sector is sticking more money into research and development than ever before, industry association VCI said recently.
Last year, the industry spent 10.8 billion euros (12.5 billion dollars), with the figure set to rise to 11 billion euros in 2018, according to VCI's projections.
The year 2017's total represents a rise of 3 per cent compared to the previous year.
Around 41,000 people are employed in research and development in the industry, around two-thirds of those in the production of new medicines or chemical products, VCI said.
The German chemical and pharmaceutical industry still shells out significantly less on research and development as a proportion of its revenue - 5.7 per cent - than the electronics and carmaking industries, however.
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
