Multinational firms’ R&D spending drops 2.2% in 2011

Multinational drug firms slightly cut back their spending on research and developing (R&D) last year, dampened by economic jitters stemming from a global slowdown, data showed Wednesday.

The combined R&D spending of 23 foreign-invested pharmaceutical firms totaled 244.9 won in 2011, down 2.2 percent from a year earlier, according to the Korean Research-based Pharmaceutical Industry Associati...