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America's Biopharmaceutical Companies' Commitment to Research Remains Strong Despite Challenges
Date:4/11/2013

WASHINGTON, April 11, 2013 /PRNewswire-USNewswire/ -- Investment in research and development (R&D) by member companies of the Pharmaceutical Research and Manufacturers of America (PhRMA) remained strong at an estimated $48.5 billion in 2012, despite economic, scientific, and business challenges. These efforts are highlighted in PhRMA's 2013 Biopharmaceutical Research Industry Profile released today.

(Logo: http://photos.prnewswire.com/prnh/20091027/PHRMALOGO)

The 2012 R&D investment figures reflect the biopharmaceutical sector's continued standing as America's most research-intensive industry.  In 2012, PhRMA members invested nearly 21 percent of domestic sales into R&D.

"Investment in research is crucial to bringing new treatments to patients for our most challenging and costly diseases," said John J. Castellani , PhRMA president and CEO. "The U.S. biopharmaceutical sector – led by our member companies – is a major contributor to American innovation and to the domestic economy."

This commitment to research and development is reflected in the robust biopharmaceutical pipeline, which has a high proportion of potential first-in-class medicines and therapies targeting diseases with limited treatment options. According to a report released by PhRMA earlier this year, more than 5,400 medicines are in development globally, representing future opportunities for new, cutting-edge medicines to improve patient care and bring value to the U.S. health care system.

The biopharmaceutical industry's approach to R&D continues to evolve and adapt to scientific advancements, rising drug development costs and c
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SOURCE Pharmaceutical Research and Manufacturers of America
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