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R&D Investment by U.S. Biopharmaceutical Companies Increases to Record $65.3 Billion, Study Finds
Date:3/16/2010

SAN FRANCISCO, March 16 /PRNewswire/ -- New research just released reveals that research & development (R&D) investment in new medicines and vaccines by the U.S. biopharmaceutical industry was $65.3 billion in 2009, an increase of more than $1.5 billion from the total R&D investment made in 2008, according to a combined analysis conducted by Burrill & Company, a San Francisco-based global leader in life sciences whose principal activities are in Private Equity, Venture Capital, Merchant Banking and Media, and the Washington, DC-based Pharmaceutical Research and Manufacturers of America (PhRMA).

PhRMA-member companies alone spent an estimated $45.8 billion on biopharmaceutical R&D last year, according to a PhRMA survey. The Burrill & Company analysis shows that non-PhRMA pharmaceutical research companies in the United States spent an estimated $19.5 billion on R&D in 2009.

"This is the sixth 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 record R&D investment that has been made despite the tough ongoing economic hurdles faced by these innovative companies shows the ind
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SOURCE Burrill & Company
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