Wendy Zhang/ Shanghai Daily news

AstraZeneca Pharmaceutical Co Ltd, one of the world's leading pharmaceutical companies, will cooperate with the Shanghai-based PharmaTech to invest US$14 million on the research and development of new drugs from 2006 to 2007.
The project is an important part of AstraZeneca's US$100 million R&D plan in China for the coming three years.
According to the agreement, PharmaTech will offer hundreds of small-molecular compound libraries to AstraZeneca for the R&D of new drugs in the next two years and AstraZeneca will offer nearly 100 proposals on compound libraries, with more discussions and cooperation expected between the two companies.