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Multinational drug makers in China are fighting to hold on to top talent as senior local staff leave to join a booming domestic biotechnology sector drawing record investment, The Financial Times tells us. They are joining a sector that received a record $11.7 billion of venture capital investment in 2017, more than double the $5.3 billion invested in 2016, with about $2.6 billion going to drug developers. In addition, Chinese drug companies raised more than $3.1 billion from equity markets last year, and billions more from licensing agreements.

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