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By Francesco Guarascio, Michael Erman and Stine Jacobsen (Reuters) - Western drugmakers and medical device companies warn their plans to keep selling .
The Innovative Health Initiative (IHI) is set to put €2.4 billion into collaborative health research projects between industry, academics and SMEs starting this June, following the formal launch on Wednesday. The IHI is the successor to Innovative Medicines Initiatives (IMI) 1 and 2, which since 2008 has been working to speed up the translation of academic research into new drugs.