German pharmaceutical company Boehringer Ingelheim recently announced a plan to invest over 3.5 billion yuan ($483.25 million) into research and development (R&D) efforts in China over the next five years.

Boehringer Ingelheim plans to invest over 3.5 billion yuan into R&D in China over the next five years. [Photo/WeChat account: pdnews]

In 2018, Boehringer Ingelheim initiated the China IN project, which involved making China part of its clinical trials in the world. In 2019, the project was upgraded to the China Key project, which breaks away from the traditional R&D model for new drugs and makes China an integral part of its early clinical development research.

The move to integrate itself with local innovative forces has become an important part of Boehringer Ingelheim's development strategy in China. Over the past years, the company has actively collaborated with partners throughout the industrial chain in China, focusing on early-stage research and innovation empowerment, and working with various parties to promote the implementation of innovative solutions in China.

In 2020, Boehringer Ingelheim China establishes the External Innovation Hub in Shanghai. [Photo/WeChat account: pdnews]

In 2020, Boehringer Ingelheim China established the External Innovation Hub, which integrates cross-border research, business development and licensing, and has a venture capital fund. Through this innovative business model, comprehensive cooperation including early-stage research, innovation collaboration, and strategic investment can be conducted, thus facilitating the transformation of ideas into reality.

A rendering of Boehringer Ingelheim's booth at the 6th China International Import Expo. [Provided to chinadaily.com.cn]