Navigation Links
R&D Investment by U.S. Biopharmaceutical Companies Remains Strong Despite Ongoing Economic Challenges
Date:3/16/2010

WASHINGTON, March 16 /PRNewswire-USNewswire/ -- Despite a fragile economy, America's pharmaceutical research and biotechnology companies invested a record $65.3 billion last year in the research and development of new life-changing medicines and vaccines – an increase of more than $1.5 billion from 2008, according to analyses by the Pharmaceutical Research and Manufacturers of America (PhRMA) and Burrill & Company.

This investment reflects the continued commitment of America's biopharmaceutical research companies to lead the world in the pursuit of new, life-saving and life-enhancing medicines. PhRMA-member companies alone spent an estimated $45.8 billion on pharmaceutical R&D last year, according to the 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.

Investment in R&D by America's pharmaceutical research and biotechnology companies remained strong last year, in the face of a weak economic environment and historically low growth in drug spending. While companies have been forced to make difficult business decisions, research spending as a percentage of sales remained high in 2009. Over the past nine years, America's pharmaceutical research companies have consistently invested around 18 percent of domestic sales on R&D activities.

"America's biopharmaceutical research sector takes great pride in its global leadership in the development of new life-saving treatments and cures," said PhRMA President and CEO Billy Tauzin. "Over the past year the economic challenges have been enormous, but our industry's continued commitment to R&D is bringing hope to millions of patients around the world who are battling potentially devastating diseases such as cancer, heart disease and diabetes."

U.S. biopharmaceutical companies' focus on research has been observed by many independent experts. For instance, the nonpartisan Congressional Budget Office (CBO) has said: "The pharmaceutical industry is one of the most research-intensive industries in the United States. Pharmaceutical firms invest as much as five times more in research and development, relative to their sales, than the average U.S. manufacturing firm."

Last year, University of Connecticut researchers similarly found that over the past 25 years, investment in R&D by the pharmaceutical and biotechnology sectors greatly exceeded that of all other industries in the U.S.

Importantly, this investment has produced results. According to a 2006 CBO analysis, "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."

For instance, independent research shows that cancer patients are living, on average, three years longer – and 83 percent of those survival rate gains are due to new treatments, including medicines. Heart failure and heart attack deaths fell by nearly half from 1999 to 2005. And since the advent of highly active anti-retroviral therapy in 1995, the annual number of U.S. deaths due to AIDS has plummeted by more than 70 percent.

As in past years, an increasing number of potential new drugs are entering clinical testing. Today, there are more than 2,900 medicines in clinical trials or awaiting review by the Food and Drug Administration in the U.S., compared with 2,400 in 2005. The current pipeline includes more than 800 medicines to treat cancer, over 300 specific to rare diseases and more than 300 medicines for heart disease and stroke.

"This exciting research not only carries the potential to dramatically change and improve the lives of countless patients, it supports valuable and rewarding jobs for millions of American workers," said Tauzin. "With unemployment rates remaining high, our nation must embrace strong sectors such as ours. If we want to maintain our leadership in biopharmaceutical R&D – and the subsequent value it brings to our state and national economies – it's critical that the U.S. preserve policies that make such research possible."

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 $45.8 billion in 2009 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.3 billion in 2009.

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

For information on stories of hope and survival, visit: http://sharingmiracles.com/.

For information on how innovative medicines save lives, visit: http://www.innovation.org.

For information on the Partnership for Prescription Assistance, visit: http://www.pparx.org.

For more information on public health emergencies, visit http://www.rxresponse.org.

For information on the danger of imported drugs, visit: http://www.buysafedrugs.info.

SOURCE Pharmaceutical Research and Manufacturers of America

Back to top

RELATED LINKS
http://www.phrma.org

'/>"/>

SOURCE Pharmaceutical Research and Manufacturers of America
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Micromet Highlights Clinical Plans and Regulatory Strategy for Lead Product Candidate Blinatumomab at its Annual R&D Day
2. LOREAL and Hurel Corporation Announce R&D Collaboration to Develop a Non-Animal Alternative, Microfluidic Biochip
3. Delcath Systems, Inc. Appoints Dr. Krishna Kandarpa its Executive Vice President R&D and Chief Medical Officer
4. China Biologic Products to Present at the Rodman & Renshaw Annual China Investment Conference
5. Glide Pharma Completes Oversubscribed GBP2.7 Million ($4.3 Million) Investment Round
6. Wound Management Technologies, Inc. Engages Miller Tabak, A National Investment Banking Firm Specializing in the Healthcare Market Space
7. Zassi Medical Evolutions Spins out Electrical Stimulation Technology for Gastrointestinal Continence Control and Forms New Company with Technology Investment Firm
8. VirtualScopics to Present at the Upcoming OneMedPlace Investment Conference
9. Suneva Medical Signs Multi-Million Dollar Line of Credit Agreement with Western Technology Investment
10. Circassia Raises GBP15 Million ($25 Million) in Oversubscribed Investment Round
11. Governor Rendell: New State Investments Bear Fruit in Adams County; Help Pharmaceutical Company Expand in Philadelphia
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: ... 510(k) clearance for its Elecsys BRAHMS PCT (procalcitonin) assay ... sepsis or septic shock. With this clearance, Roche is ... a fully integrated solution for sepsis risk assessment and ... with bacterial infection and PCT levels in blood can ...
(Date:6/23/2016)... , June 23, 2016 Bracket , ... launch its next generation clinical outcomes platform, Bracket eCOA (SM) ... held on June 26 – 30, 2016 in ... first electronic Clinical Outcome Assessment product of its kind to ... #715. Bracket eCOA 6.0 is a flexible platform ...
(Date:6/23/2016)... LONDON , June 23, 2016 ... environments  Oticon , industry leaders in ... the launch of Oticon Opn ™, the world,s ... world of possibilities for IoT devices.      ... Opn, Oticon introduces a number of ,world firsts,: ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... ... TherapySites, the leading website and online marketing ... Association. This new relationship allows TherapySites to continue to extend their online ... and promotional offers. , "TCA is extremely excited about this new partnership, as ...
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star rating to ... of individuals in the United States and Canada wear eyeglasses. Once considered to be ... vision and make a fashion statement. Even celebrities use glasses as a way of ...
(Date:6/26/2016)... ... ... Pixel Film Studios Released ProSlice Levels, a Media Slicing Effect Plugin ... whole new perspective by using the title layers in ProSlice Levels to split-up ... Levels contains over 30 Different presets to choose from. FCPX users can ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are ... with endometriosis. These women need a treatment plan to not only alleviate symptoms ... can help for preservation of fertility and ultimately achieving a pregnancy. The specialists ...
(Date:6/25/2016)... ... ... temporary closing of Bruton Memorial Library on June 21 due to a possible lice infestation, ... aspect of head lice: the parasite’s ability to live away from a human host, and ... necessary one in the event that lice have simply gotten out of control. , As ...
Breaking Medicine News(10 mins):