Wyeth (NYSE: WYE) told Interfax that it would not create an R&D center in China because the SFDA takes too long to approve initial clinical trials (see article). The IND process in the US and Europe involves only a 30-day waiting period, but the same process in China can be nine months or more. On the other hand, even though it will not establish an R&D center in China, Wyeth said it would make several moves to increase its use of China’s R&D expertise. More details...

Stock Symbol: (NYSE: WYE)