Shionogi to Increase R&D Budget Over Next Five Years

Shionogi said that it will increase its R&D spending by 10 percent each year for the next five years, to help accelerate its new prescription drug development, as reported in Morningstar. The Japanese drugmaker plans to increase its R&D budget from 32 billion yen in 2005 to 50 billion yen in 2010, as part of its new five-year business plan, which it will finalise in May. The company noted it "aims to develop competitive products for the domestic and overseas markets by concentrating its resources on such treatment areas as infectious diseases, chronic pain and metabolic diseases including hyperlipidaemia and diabetes," as reported in Morningstar. FirstWord (http://firstword.pslgroup.com/sn.do?id=09B788F217C3664585256F6D005F7FAF&mainsrc=/Fws.do?id=09B788F217C3664585256F6D005F7FAF&articleid=20FE061B918EFE1C85256FCC0051A87A)