R&D Spending by U.S. Biopharmaceutical Companies Reaches Record $58.8 Billi...(essional Budget Office (CBO) stated in a...)

Importantly, this investment has produced results. According to CBO, "Many examples exist of major therapeutic gains achieved by the industry in recent years... [A]necdotal and statistical evidence suggests that the rapid increases that have been observed in drug-related R&D spending have been accompanied by major therapeutic gains in available drug treatments."

"America's pharmaceutical and biotechnology research companies continue to pave the way for the development of future treatments and cures," said PhRMA President and CEO Billy Tauzin. "Simply put, R&D is the lifeblood of pharmaceutical research companies. Last year's investment builds on over 25 years of growth in R&D spending as our researchers continue the search for new and improved therapies to tackle a wide range of diseases and conditions, such as cancer, heart disease, HIV/AIDS and Alzheimer's."

The current pipeline includes more than 600 medicines to treat cancer, over 300 specific to rare diseases and more than 275 medicines for heart disease and stroke. This activity dwarfs the pipelines in other parts of the world, such as Europe and Japan, partly reflecting existing policies in the U.S. that foster innovation.

"The preservation and strengthening of these policies -- including our market-based health care system, incentives for research and strong intellectual property rights -- are critical if we as a nation are serious about maintaining our leadership in pharmaceutical R&D," said Tauzin. "Patients in the U.S. and around the world deserve no less."

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading pharm
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