October 1, 2014
Jackson Lab reveals overseas ambitions
A top executive for Bar Harbor-based Jackson Lab said the company is planning to possibly expand into China to take advantage of the country’s growing biomedical research spending.
The Bangor Daily News reported that Charles Hewitt, executive vice president and chief operating officer, said while China’s spending on biomedical research has increased up to 20% every year, spending in the United States has continually plummeted.
“Chinese spending on biomedical research is about to cross the U.S.’s spending,” he said, according to the BDN. “I’m a nonprofit guy but I’m kind of a businessman, too, and you can see why you’d want to be part of that.”
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