The China National Biological Products Corporation (CNBPC), the largest bio-tech company in China, plans to spend 500 million yuan (US$60.46 million) developing vaccines against severe acute respiratory syndrome (SARS).
The first 50 million yuan has been invested in the early stage of the project, Wang Guoli, general manager with the CNBPC, said Monday.
The money will be spent in improving and rebuilding lab and production facilities for SARS vaccines, flu vaccines, blood products and other biological products, Wang said.
The company is carrying out three SARS-related research projects and has invested another 10 million yuan in developing SARS detecting methods, blood serums against SARS and relevant vaccines.
The CNBPC, founded in 1989 as the country's leading vaccine manufacturer, produces more than 50 kinds of vaccines.
The company is made up of six national research institutes on biological products in Chinese cities of Beijing, Changchun, Chengdu and Lanzhou.
(Xinhua News Agency June 10, 2003)
