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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
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SOURCE Pharmaceutical Research and Manufacturers of America
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