"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
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