Navigation Links
R&D Spending by U.S. Biopharmaceutical Companies Increases 3 Percent in 2008

SAN FRANCISCO, March 10 /PRNewswire/ -- New statistics just released reveal that R&D investment in new medicines by the biopharmaceutical industry was $65.2 billion in 2008, an increase of 3 percent from 2007, according to a combined analysis conducted by Burrill & Company, a San Francisco based global leader in life sciences whose principal activities are in Venture Capital, Private Equity, Merchant Banking and Media and the Washington DC-based Pharmaceutical Research and Manufacturers of America (PhRMA).

PhRMA-member companies alone spent an estimated $50.3 billion on pharmaceutical R&D last year -- up 5 percent from the 2007 total of $47.9 billion in 2007, according to a PhRMA survey. The Burrill & Company analysis shows that non-PhRMA pharmaceutical research companies in the United States spent an estimated $14.9 billion on R&D last year, compared with $15.3 billion in 2007.

"This is the fifth year that we have joined with PhRMA to report industry-wide biopharmaceutical research and development expenditures," said G. Steven Burrill, CEO of Burrill & Company. "The growth in R&D investment shows the industry's commitment to support important advances in better medicines and new treatments for patients made by research scientists and physicians."

"America's biopharmaceutical companies are not immune to the challenges presented by our current economic crisis," said PhRMA President and CEO Billy Tauzin. "However, the important work that we do every day in the battle with disease cannot stop. The U.S. is the world's hotbed of medical innovation, and throughout the country, we remain committed today to finding tomorrow's cures, despite the incredible challenges that are posed by the current economy."

Record investment in R&D is leading America's pharmaceutical research and biotechnology companies toward record levels of clinical testing of new medicines. Today, there are more than 2,900 medicines in development in the U.S., including 750 compounds in development for cancer, 312 for heart disease and stroke, 150 for diabetes, 109 for HIV/AIDS and 91 for Alzheimer's disease and dementia.

"As we look toward the future of health care in America, we must remember that the incredible progress we make every day in research and development will be wasted if patients don't have access to our life-saving medicines," said Tauzin. "That's why we're committed to working toward comprehensive health care reform that offers health coverage to all Americans."

Burrill & Company computes R&D expenses among other key financial parameters on a quarterly basis, in its Burrill Report, for the universe of U.S. publicly listed biotech companies through its reports on the industry (sourced from company reports filed with the SEC). To create a comparable report additive to PhRMA's annual membership survey, Burrill applies a set of pre-determined criteria to their biotech research to identify and select non-member companies. Specifically:

      -- Companies must be based in the United States of America
      -- Companies must not be a member or member subsidiary of PhRMA and,
      -- Companies must meet the "human healthcare focus" test, i.e., their
         R&D expenses are principally for research and development of new
         medicines for healthcare.

About Burrill & Company

Founded in 1994, Burrill & Company is a San Francisco-based global leader in life sciences with activities in Venture Capital, Private Equity, Merchant Banking and Media. The Burrill family of venture capital funds has over $950 million under management and its merchant banking business is one of the industry leaders in life sciences transactions. Burrill is also the creator, sponsor and facilitator of leading industry conferences worldwide and publisher of a range of bio-intelligence reports including the bi-monthly Burrill Report and annual "State of the Industry" report -- the 23rd Edition, Biotech 2009-Life Sciences: Navigating the Sea, is now available.

About PhRMA

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives. PhRMA companies are leading the way in the search for new cures.

SOURCE Burrill & Company
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. SciQuest Announces Newest Life Sciences Customer; BioMarin Pharmaceutical Drives Spending Effectiveness with Automated, Intuitive Procurement
2. R&D Spending by U.S. Biopharmaceutical Companies Reaches Record $58.8 Billion in 2007
3. Keryx Biopharmaceuticals Inc. Announces Receipt of Nasdaq Delisting Notification
4. Frost & Sullivans Biopharmaceuticals Market Briefing to Address the Use of Embryonic Stem Cells
5. Eiger BioPharmaceuticals Raises $7.1 Million A Round
6. Mindset BioPharmaceuticals (USA) Inc Obtains Notice of Allowance for European Patent Related to Use of Insulin Sensitizers in Senile Dementia, Dementia and Memory Loss
7. Mach One Closes on Acquisition of Biopharmaceutical Design & Engineering Firm
8. TechniKroms Biopharmaceutical Equipment Operations to be Integrated With Asahi Kasei Medical
9. XTL Biopharmaceuticals Announces Appointment of David Grossman and Boaz Shweiger to Board of Directors
10. Global Biopharmaceutical Leader in Peptide Research Expands Commitment in San Diego/U.S. With New R&D Facility and Ready-To-Market Prostate Cancer Treatment Degarelix
11. Mach One Executes Definitive Agreement to Acquire Biopharmaceutical Design & Engineering Firm
Post Your Comments:
(Date:11/30/2015)... (PRWEB) , ... November 30, 2015 , ... ... M.D., will join physicians, aesthetic practitioners and aesthetics professionals from Central America and ... to be held in Panama City, Panama Feb. 17-19, 2016. Testart will present ...
(Date:11/30/2015)... Dec. 1, 2015 /PRNewswire/ - BioAmber Inc. (NYSE: BIOA ), ... joined the American Business Act on Climate Pledge, alongside more ... standing with the Obama Administration to demonstrate an ongoing commitment ... outcome to the COP21 Paris climate ... Sarnia, Canada . --> BioAmber ...
(Date:11/30/2015)... Spherix Incorporated (Nasdaq: SPEX ) an ... and monetization of intellectual property, today provided an ... to create shareholder value. Anthony ... on published reports, the total addressable market of ... Spherix will seek to secure fair and reasonable ...
(Date:11/30/2015)... -- HUYA Bioscience International, the leader in accelerating global development ... announced it has signed a Memorandum of Understanding with ... between KDDF and HUYA with the ultimate goal of ... the global market. China,s ... preclinical and clinical stage compounds. The company advances the ...
Breaking Biology Technology:
(Date:10/29/2015)... Oct. 29, 2015  The J. Craig Venter Institute ... "DNA Synthesis and Biosecurity: Lessons Learned and Options for ... Health and Human Services guidance for synthetic biology providers ... --> --> Synthetic ... the potential to pose unique biosecurity threats. It now ...
(Date:10/29/2015)... , Oct. 29, 2015  Connected health pioneer, ... the explosion of technology-enabled health and wellness, and the ... book, The Internet of Healthy Things ... or smartphones even existed, Dr. Kvedar, vice president, Connected ... health care delivery, moving care from the hospital or ...
(Date:10/27/2015)... In the present market scenario, security is ... industry verticals such as banking, healthcare, defense, electronic gadgets, ... for secure & simplified access control and growing rate ... of bank accounts, misuse of users, , and so ... laptops, and smartphones are expected to provide potential opportunities ...
Breaking Biology News(10 mins):