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R&D Spending by U.S. Biopharmaceutical Companies Reaches Record Levels in 2008 Despite Economic Challenges
Date:3/10/2009

is," 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 biopharmaceutical 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."

To view the report, please visit http://www.archstoneconsulting.com/biopharma.aspx.

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. PhRMA members alone invested an estimated $50.3 billion in 2008 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.2 billion in 2008.

PhRMA Internet Address: http://www.phrma.org

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SOURCE Pharmaceutical Research and Manufacturers of America
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