Based on the data of biopharmaceutical companies listed on the main board of the Shenzhen and Shanghai in 20102012 year as a study sample, the corporate performance as the dependent variable, the shareholding structure as the independent variable, and R&D investment as an intermediary variables regression model was established. An empirical test was accomplished by software SPSS19.0. The results showed that R&D investment was of mediated effects between ownership structure and corporate performance.