US-based pharmaceuticals and medical research giant Abbott Laboratories and the Office of the Chief Scientist in the Industry, Trade and Labor Ministry have agreed to pursue a series of joint ventures, Yedioth Ahronoth reported Tuesday.
A memorandum of understanding to that effect was signed earlier this week in Jerusalem.
Chief Scientist Dr. Eli Opper said that, "Over the past few years we have been working to bring major pharmaceutical companies to establish R&D activity in Israel.
Abbott it a worthy strategic partner for Israeli companies in the field.
"Israel offers extensive scientific knowledge and resources and we are pleased that this opportunity, to develop new medical technologies, has presented itself," he said.
So far, 18 multi-national conglomerates have signed cooperation agreements with the Office of the Chief Scientist.
Abbott annual turnover stands at $33 billion. The company first began operating in Israel in 2004, and currently employs 100 .
RSS
